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Offshore wind company cancels projects in New Jersey

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Danish offshore wind company Orsted has called off plans for two wind farms off the coast of New Jersey.

“The world has in many ways, from a macroeconomic and industry point of view, turned upside down," said Orsted CEO Mads Nipper.

Orsted is expected to have to write off as much as $5.6 billion due to the decision.

Read more from The New York Times.

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