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Developer axes 2 major offshore wind projects in blow to Biden’s green energy goals

Global energy developer Orsted abruptly canceled two major offshore wind projects off New Jersey’s coast in a blow to President Biden’s green energy goals which call for a rapid development of wind energy.

The Denmark-based energy firm said its board of directors voted to ax its high-profile Ocean Wind 1 and Ocean Wind 2 twin projects in response to changing macroeconomic factors, including high inflation, supply chain bottlenecks and rising interest rates. The projects had been personally backed by Democratic New Jersey Gov. Phil Murphy and cited by the White House as proof of “Bidenomics” working.

“We have no choice but to cease development of Ocean Wind 1 and Ocean Wind 2,” said David Hardy, Orsted’s group executive vice president and Americas division CEO. “We are extremely disappointed to have to take this decision, particularly because New Jersey is poised to be a U.S. and global hub for offshore wind energy.”

“We remain committed to the U.S. renewable energy market, building clean power that will create jobs across technologies and states from the Northeast to Texas,” Hardy continued. “Offshore wind energy remains an integral solution to helping the U.S. meet its clean energy ambitions, including job creation, a domestic supply chain and a reinvigorated maritime industry.”

And Rep. Chris Smith, R-N.J., who represents Cape May’s congressional district, said the project cancelations was a “victory” for his constituents.

“Turns out that despite huge taxpayer subsidies and credible predictions of big increases to ratepayers, Orsted has concluded that they will still lose money,” Smith said in a statement. “Orsted’s decision was a first step in exposing the economic unsustainability and environmental dangerousness of ocean wind turbines — each the size of the Chrysler Building in New York City — and Orsted’s pulling out of the deal may help slow and eventually halt similar projects off New Jersey’s coast.” 

“Orsted’s withdrawal marks a victory for local residents, environmentalists, and NJ commercial and recreational fishermen who have worked alongside Smith and Rep. Jeff Van Drew to expose the dangers inherent in the massive ocean industrialization plans slated for the Jersey Shore,” he added. “It also marks a major failure for the Biden and Murphy Administrations who tried to push it through and throw billions of taxpayer dollars at the unsound, improperly vetted projects.”

Thomas Catenacci is a politics writer for Fox News Digital.

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