"Ship Shortage and Cancellations Jeopardize Ørsted's Offshore Wind Hopes, Jeopardizing Biden's Clean Energy Goals"

Danish energy firm Orsted has canceled two offshore wind farms off the coast of New Jersey due to significant delays in securing the necessary ships for construction. The decision came as a surprise, as New Jersey had passed a law allowing offshore wind developers to keep federal tax credits. Orsted is still moving forward with projects in New York, where it has already secured a vessel for construction. The cancellation is the latest setback for the U.S. offshore wind industry, which has faced rising costs and supply chain bottlenecks. New Jersey Governor Phil Murphy has directed his administration to review legal options to ensure Orsted fulfills its obligations.