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Wind Project Approvals, Tax Credits Look to Outpace Macroeconomic and Supply Chain Headwinds in 2024

November 27, 2023

Recent events in the wind power industry, all occurring on a single day, provide a snapshot of the sector’s challenges and opportunities heading into 2024.

Ørsted, the world’s largest developer of offshore wind, on Oct. 31 announced the cancellation of Ocean Wind 1 and 2, two 1,000-MW-plus projects off the coast of New Jersey. In the same announcement, Ørsted touted its decision to move forward with Revolution Wind, a 704-MW wind project and joint venture with Eversource Energy off the coast of Connecticut and Rhode Island.

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