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    In a setback for the wind industry, 2 large offshore projects are canceled in N.J.

    The decision by the wind energy developer Orsted to cancel the two projects is raising new concern over the financial viability of the nascent offshore wind industry in the U.S.
    by The Associated Press Nov 01, 2023 3 minutes

    ATLANTIC CITY, N.J. — Wind energy developer Orsted is writing off $4 billion, due largely to the cancellation of two large offshore wind projects in New Jersey whose financial challenges mirror those facing the nascent industry.

    It added fresh uncertainty to an industry seen by supporters as a way to help end the burning of planet-warming fossil fuels, but derided by opponents as inherently unworkable without massive financial subsidies.

    The Danish company said Tuesday night it is scrapping its Ocean Wind I and II projects off the coast of southern

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