Offshore wind news

[ombugge]

More problems in the OWF industry:

Ørsted shelves 2.4GW UK offshore wind project over rising costs - Splash247

Ørsted claimed that this increased the execution risk and deteriorated the value creation of the project, so the company decided to stop further spending at this time and terminate the project’s supply chain contracts. This means that the offshore wind developer will not deliver Hornsea 4 under the CfD awarded in allocation round 6.

He added that the adverse macroeconomic developments, continued supply chain challenges, and increased execution, market, and operational risks have eroded the value creation.

“We’ll keep the project rights for the Hornsea 4 project in our development portfolio, and we’ll seek to develop the project later in a way that is more value-creating for us and our shareholders,” Errboe concluded.