Danish wind farm developer Orsted will pay New Jersey $125 million to settle claims over the company’s cancellation of two offshore wind farms last year.

Nov 1, 2023 · Plans to build two wind farms off the coast of New Jersey were scrapped, the company behind them said on Wednesday, a blow to the state’s efforts to cut greenhouse gas emissions and the latest...

Nov 1, 2023 · ATLANTIC CITY, N.J. — Wind energy developer Orsted is writing off $4 billion, due largely to the cancellation of two large offshore wind projects in New Jersey whose financial challenges mirror...

Nov 1, 2023 · Orsted, the company that Democrats up and down the Eastern Seaboard have been counting on to build offshore wind farms, is pulling the plug on two of its largest projects, a setback for President...

May 28, 2024 · Ørsted, headquartered in Fredericia, Denmark, was contracted to build two 1,100-megawatt wind farms off New Jersey's southeastern coast.

Offshore wind power company Orsted is trying to get out of a $300 million guarantee it agreed to pay New Jersey in the event it failed to build its first wind farm off the state’s coast.

New Jersey’s Cape May County and environmental and fishing industry groups are suing the federal government to try to overturn its approval New Jersey’s first offshore wind farm, which would be built by Danish company Orsted.

May 28, 2024 · New Jersey officials said the state will receive $125 million from a legal settlement with Denmark's Orsted over the company's cancellation last year of two offshore wind farm projects.

Nov 1, 2023 · Orsted stands to lose a $100 million guarantee it posted with New Jersey earlier this month that it would build Ocean Wind I by the end of 2025. That money could be returned to ratepayers. The...

Mar 30, 2025 · Ørsted has pulled out of a controversial plan to develop offshore wind farms, leaving Gov. Phil Murphy’s Green Energy plan in jeopardy one week before Democrats defend their majorities in both houses of the legislature.