Despite hurdles, future growth prospects driving Orsted’s US offshore wind efforts

Orsted Americas CEO David Hardy conceded that its current US offshore wind projects would have “100% neutral lifecycle IRR [internal rate of return]” but would position the developer for future growth.

“We believe in the long-term benefits and the long-term opportunity in offshore wind in the US,” he said during the Danish developer’s Capital Markets Day presentation. “The market’s improving… [and] the states and federal government want to see the success.”