MAJOR OFFSHORE WIND COMPANY TAKES HUGE LOSSES AFTER STRUGGLING TO GET MORE BIDEN BUCKS

A Danish offshore wind company with major projects in the U.S. has taken huge losses Wednesday after warning about its so-far unsuccessful effort to get more federal subsidies, according to Reuters.  Orsted stated Tuesday that it anticipates that its three developments in U.S. waters may be $2.3 billion less valuable than anticipated, in part because the firm is having trouble receiving more tax credits from the Biden administration, according to Reuters. Other problems the firm’s projects face include supply chain backups and rising interest rates that make refinancing difficult.  MORE AT Major Offshore Wind Company Takes Huge Losses After Struggling To Get More Biden Bucks | The Daily Caller