Orsted withdraws from Maryland pricing arrangement for Skipjack wind farms due to unviable pricing and industry financial challenges.

Danish offshore wind company Ørsted has withdrawn from a pricing arrangement with Maryland regulators for its planned Skipjack wind farms, citing the current pricing limit as not commercially viable for the company. The decision has been made amid financial challenges faced by the offshore wind industry, including inflation, high interest rates, and supply chain pressures. The company will continue to develop the wind farm off the coast of northern Ocean City, but will need a change in pricing going forward.

January 26, 2024
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