A former adviser to U.S. Climate Envoy John Kerry has been tapped for a top post at a Danish green energy giant that stands to benefit from the Biden administration’s climate handouts, according to a Thursday announcement.
Varun Sivaram, who is also the former managing director for Clean Energy and Innovation under the Biden administration, will serve as Orsted’s senior vice president for Strategy and Innovation, the announcement said. The company holds the largest offshore wind portfolio in the world and is rapidly expanding into onshore renewable technologies, according to an annual 2022 report. (RELATED: The Biden Admin’s Latest Offshore Wind Lease Sales Mostly Went To Foreign Energy Companies)
Despite the company suffering a loss in its offshore wind business in the fourth quarter of 2022, Orsted CEO Mads Nipper remained optimistic that climate tax credits and subsidies in the Biden administration’s Inflation Reduction Act would be a “turning point” for the renewable energy industry, Reuters reported. The legislation includes the allocation of approximately $370 billion to combat climate change by spurring renewable energy initiatives.
Delighted to share that I’m joining @Orsted to lead group corporate strategy as well as technology innovation. It’s been an exhilarating 2 years serving Sec Kerry & the administration—now I’m excited to advance Ørsted’s vision as a global green supermajor!https://t.co/1ICngaIIrO
— Varun Sivaram (@vsiv) February 2, 2023
“With the right incentive, like for example a $3 tax credit per kilogram of green hydrogen in the Inflation Reduction Act, we think that the next few years will be a turning point for green hydrogen,” Nipper said, according to Reuters.
In 2022, Orsted expanded its offshore wind portfolio in the U.S., such as the South Fork wind farm off the coast of Long Island, New York, according to its annual report. Further, the green energy giant added U.S. onshore wind and solar investments to its portfolio.
“Varun brings proven expertise in the next generation of clean technologies, as well as the strategic and regulatory landscape in which the clean energy industry operates,” Nipper said in a statement.
Orsted and the White House did not immediately respond to the Daily Caller News Foundation’s request for comment.
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