By Kevin Killough (Just The News)
Danish wind developer Orstead announced Thursday it’s delaying construction on its Revolutionary Wind project off the coasts of Rhode Island and Connecticut. The news comes less than a year after the company already scrapped three projects over the commercial viability of the projects.
The offshore wind industry has been struggling financially for much of the past year, with companies’ stocks falling in part over uncertainty in the outcome of the U.S. presidential election. Inflation, supply chains and interest rates have also been blamed for the industry’s troubles.