Offshore wind company Ørsted has withdrawn its agreement with the Maryland Public Service Commission as officials look to reposition the company’s regional Skipjack project.
Last Thursday, Ørsted officials announced they will reposition Skipjack Wind, a 966-megawatt project the Danish company is developing off the regional coastline. After reviewing the Maryland Public Service Commission orders approving the two-phased project, the company reported the payment amounts for offshore wind renewable energy credits, or ORECs, are no longer commercially viable because of market conditions – including inflation, high interest rates and supply chain issues.
“Today’s announcement affirms our commitment to developing value creating projects and represents an opportunity to reposition Skipjack Wind, located in a strategically valuable federal lease area and with a state that is highly supportive of offshore wind, for future offtake opportunities,” said David Hardy, the group executive vice president and CEO of Americas Region at Ørsted. “As we explore the best path forward for Skipjack Wind, we anticipate several opportunities and will evaluate each as it becomes available.”
Skeptical now? Hello? Brain dead mindset on something that has yet to be accomplished along the eastern seaboard. Delmarva has the monopoly (how did everyone like their increased JAN bill? It really wasnt that cold…zero snow, yet an increase.
Brain dead in City Hall…..just like this pipedream windmill green initiative…..the additional route 90 bridge aint happening either…regardless of you having it as priority 1. SHA has bigger infrastructure issues across the state amd zero money…..let alone thinking of building another bridge to a.town that is not all year long…..and still cannot fill hotels mid week. Jammin events for weekends does not bring revenue during the week……nor keeping restuarants opened late. Not to mention the lack of SUMMER HELP!
Bigger issues, yet continue to build at the north end. Anyone seen those townhomes next to the north end bus stop? They are on top of coastal highway. How the hell did that get approved…..or Embers rebuild….or that blight called the Cambria?
Its only February.
Oh, that relic called the route 50 bridge. The one being worked on for the 1000th time.
Wake up!
I thought Joe Biden said renewable energy would bring jobs to the USA. Prayed ? China is the world leader in the production of solar panels.
we cant build junk as cheap as they can
The best path forward for Skipjack Wind is to just pack up the medicine show and leave town, not to keep hawking a misfit product under any other name to a perpetually gullible bunch of green crusaders.