Offshore wind company Orsted withdrew Thursday from an arrangement with Maryland regulators governing how much it can charge for the power it would generate at its planned Skipjack wind farms.
The company said in its notice to Maryland regulators that it is not ceasing development on the wind farm, which is planned off the coast of northern Ocean City.
But the company is saying to Maryland regulators and policymakers that the current pricing limit on wind energy is not commercially viable, and it will need to be changed going forward.
Orsted’s decision comes amid widespread financial challenges in the offshore wind industry, fueled by inflation, high interest rates and supply chain pressures.
Click here to read the rest of the article written by Christine Condon over at The Baltimore Sun
