New Energy
Orsted Says US Offshore Wind Deals Protect Against Inflation Shocks
The contract provisions safeguard developers if a Republican president slows the permitting process, said the chief of the Danish wind-power company.
Mads Nipper, chief executive officer of Orsted A/S.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
The head of Danish energy giant Orsted A/S says the US is an attractive place to build new offshore wind farms even after inflationary shocks devastated the sector over the past year. The reason: the newest deals to sell electricity include crucial provisions that increase the price of power if inflation goes up.
“When US states choose to offer inflation protection, that increases the attractiveness of the US,” Orsted A/S Chief Executive Officer Mads Nipper said in an interview Wednesday.