As costs soar, windfarm operator Ørsted scraps troubled offshore project in waters off New Jersey

                                          

American venture too much of a headache for windfarm company 

DANISH windfarm operator Ørsted, a major employer in Grimsby, has pulled the plug on a major project in the United States.

It has ceased development of its Ocean Wind 1 and Ocean Wind 2 windfarms which were due to be built off Atlantic City in New Jersey.

The decision has been attributed to  high inflation, rising interest rates and supply chain bottlenecks.

The £3-billion  already invested in the Ocean Wind scheme has effectively been lost.

There were worries, when it announced figures earlier today, that  Ørsted might also put on pause its Hornsea 3 development in the North Sea.  

However, this has not been the case which will come as a relief to its Grimsby workforce and suppliers, including blade manufacturers Siemens of Hull.