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Orsted has warned the New York State Public Service Commission (PSC)’s rejection of petitions to increase prices on previously agreed PPAs has put the developer’s 924MW Sunrise Wind project at risk.
The Danish outfit said it is reviewing the decision, adding it also threatens New York’s 2030 clean energy targets.
“We are disappointed in the PSC’s decision today,” said Orsted group executive vice president and chief executive Americas David Hardy.
“The timely development of Sunrise Wind is critical to meeting the state’s 2030 clean energy targets. We believe making available the same inflation-related mechanisms offered to recent offshore wind projects is a reasonable solution for addressing the unprecedented macroeconomic factors challenging first-wave offshore wind farms while also keeping New York’s climate goals within reach.
“We are reviewing the PSC’s order, but Sunrise Wind’s viability and therefore ability to be constructed are extremely challenged without this adjustment.
“We will evaluate our next steps and communicate the status of the project as soon as possible as our joint venture and board consider the best options going forward in light of this decision.”
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