Renewable energy giant Orsted: American offshore wind power fails to catch up with AI trend.

Renewable energy giant Orsted A/S stated that the surge in American electricity demand driven by artificial intelligence (AI) has not yet impacted the emerging offshore wind industry. Orsted's CEO and President, Mads Nipper, said on Tuesday: "This is not yet the main driver of offshore wind demand." The Danish company is one of the world's largest renewable energy developers, mainly focusing on offshore wind power. Its projects are crucial in helping the European Union achieve climate goals, but in the United States, the company has canceled two projects due to delays and supply chain issues. In August of this year, the company took a charge of over $500 million. Although the offshore wind industry in the United States is a cornerstone of President Biden's climate agenda, it has struggled to take off, partly due to high interest rates, inflation, and supply chain challenges. However, Nipper believes the situation may be changing. He said: "I am confident that the worst is behind us." He noted that the supply chain is maturing, and the US market is also growing.