Ørsted to withdraw guarantees in the US
The USD 300m that the energy company promised New Jersey shortly before the closure of Ocean Wind is now being recouped. We’re doing the same with suppliers and other partners, says Ørsted.
Quid pro quo. When New Jersey Governor Phil Murphy gave Ørsted a helping hand this summer by passing a bill that gave Ocean Wind 1 an estimated USD 1 billion tax credit, promises were made in the opposite direction with promises of USD 300 million that the project would be built and investments would be made in building the local supply chain.
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