Turbulent Times For Biden’s Offshore Wind Farms

CEO Warns: Abandoning US Projects A ‘Real Option’ Under the Inflation Reduction Act, Orsted receives upwards of 30% tax credits, but more appears to be needed as a financial crisis is unfolding in the offshore wind power industry. Nipper has asked the Biden administration to guarantee subsidies without the domestic content requirement and requested more time to overcome supply chain snarls in sourcing US-made materials. “A prudent man conceals knowledge, But the heart of fools proclaims foolishness.”

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