Ørsted's Revolution Wind project, initially set to start in 2025, is now delayed until 2026 due to soil contamination at the substation site, impacting Biden's clean energy goals.
CEO Mads Nipper acknowledged that 'Risk is an integrated part of projects. The early stage US market is hit harder than anywhere else,' pointing to the challenges faced.
The delay of Revolution Wind adds to the complications for offshore wind energy generation, as Ørsted previously canceled Ocean Wind 1 and Ocean Wind 2 due to rising costs.
Despite setbacks, Ørsted continues its commitment by moving forward with projects such as the South Fork Wind farm, aiming to contribute to the Biden administration's ambitious energy goals.
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