Surging inflation is presenting a “real challenge in the short-term” for Orsted’s offshore wind projects in the US, particularly for those in late-stage development that haven’t secured contracts for transportation and installation, David Hardy, CEO of Orsted North America, told an industry conference in Boston.

Orsted is a leader in the US offshore wind sector with 4GW of project pipeline, including multiple arrays with joint venture partner Eversource Energy such as the 704MW Revolution Wind and 924MW Sunrise Wind projects off the coasts of Massachusetts and Rhode Island.