Ørsted has been forced to push back the start of commercial operations at the Revolution Wind project. The offshore wind farm in the United States is now expected to come online in 2026.
The decision comes after the company cancelled two offshore wind initiatives close to Revolution Wind and cutting hundreds of job positions.
With first power initially scheduled to 2025, Revolution Wind's site is located off the coast of Rhode Island and Connecticut. Generation capacity is designed to reach 704MW.
According to Ørsted, the postponement will result in an impairment cost of approximately US$472m in its second-quarter financial results.
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