Connection

popular articles

EIB grants RWE €1.2 billion for Thor wind farm
RWE Strengthens Position with Four New Wind Projects in France
Eco Wave Power wins EDF Pulse award for its wave energy technology
RWE launches 8.5 MW solar power plant in Poland
BP commits to the development of four oil fields in Iraq

Vattenfall: Large-scale UK offshore wind project halted

Swedish giant Vattenfall is pulling the plug on development of the Norfolk Boreas offshore wind project in the UK due to rising costs, undermining the UK's renewable energy ambitions. Difficult market conditions, including a stressed supply chain and inadequate tax frameworks, are prompting the Group to reassess its wind power projects in the Norfolk region.

Please share:

Swedish electricity group Vattenfall is halting development of one of the UK’s largest offshore wind projects because of soaring costs, dealing a blow to the UK’s renewable energy ambitions.

Vattenfall reassesses its Norfolk wind projects following difficult market conditions

“Vattenfall is halting development of the Norfolk Boreas offshore wind project in the UK,” the group said in an earnings release on Thursday.

“Wind power is essential for clean, safe and affordable electricity”, but “conditions are extremely difficult in the sector at the moment”, comments managing director Anna Borg in a statement received by AFP.

It lists “a supply chain under pressure, rising investment costs and tax frameworks that do not reflect current market realities”.

While the Group, one of Europe’s leading wind energy producers, “still believes in the fundamentals of the Norfolk projects”, in the east of England.

“Given market conditions we are halting development of the Norfolk Boreas project and re-evaluating the best course of action for the three projects” in this region, she concludes.

The Swedish group was already facing a difficult 2022, with profits close to zero, and a heavy loss in the last quarter due to major asset write-downs linked to the energy crisis in Europe.

Register free of charge for uninterrupted access.

Publicite

Latest news

The United States Grants Two Subsidies for Nuclear Projects in Bulgaria
Flamanville’s EPR: 20 Years of Challenges for a New Energy Hope
The EU Introduces a CO2 Label for Air Travel
Westinghouse signs a 20 billion CAD agreement for nuclear projects in Canada
National Grid: a record £35 billion investment to modernize the UK’s electricity grid

Recently published in

GE Vernova secures 2 GW contract for offshore wind connection in the Baltic Sea

The Ostwind 4 project, led by GE Vernova and 50Hertz, introduces 2 GW HVDC technology to connect offshore wind from the Baltic Sea to the German power grid.
France: VALOREM and its partners finance an 18.9 MW wind farm in Lavausseau
In Nouvelle-Aquitaine, VALOREM, Bpifrance, and Crédit Agricole announce funding for an 18.9 MW wind farm in Lavausseau. The project aims to produce 43 GWh annually, supporting the region's energy transition.
en_1140946540
France: VALOREM and its partners finance an 18.9 MW wind farm in Lavausseau
In Nouvelle-Aquitaine, VALOREM, Bpifrance, and Crédit Agricole announce funding for an 18.9 MW wind farm in Lavausseau. The project aims to produce 43 GWh annually, supporting the region's energy transition.
en_1140946540
Copenhagen Infrastructure Partners invests in a 495 MW wind project in Canada
Copenhagen Infrastructure Partners (CIP) acquires a majority stake in a 495 MW wind project in Canada, with economic impact and a strategy focused on green hydrogen for Europe.
en_1140933540
Copenhagen Infrastructure Partners invests in a 495 MW wind project in Canada
Copenhagen Infrastructure Partners (CIP) acquires a majority stake in a 495 MW wind project in Canada, with economic impact and a strategy focused on green hydrogen for Europe.
en_1140933540
700 million euros invested to connect offshore wind farms to the French power grid
A 700-million-euro project aims to connect two offshore wind farms to the national power grid, strengthening strategic energy infrastructure in France.
en_1140947540
700 million euros invested to connect offshore wind farms to the French power grid
A 700-million-euro project aims to connect two offshore wind farms to the national power grid, strengthening strategic energy infrastructure in France.
en_1140947540

Ørsted sells 50% of Greater Changhua 4 Offshore Wind Farm to Cathay Life Insurance

Ørsted announces an agreement with Cathay Life Insurance to sell 50% of the Greater Changhua 4 Offshore Wind Farm under construction in Taiwan, marking a key step in their strategic energy partnership.
Etermar Energia and Qair join forces to develop floating wind power in the Iberian Peninsula
Etermar Energia and Qair have signed an agreement to collaborate on floating offshore wind projects in the Iberian Peninsula, strengthening their strategic ambition in this rapidly expanding market.
en_1140928540
Etermar Energia and Qair join forces to develop floating wind power in the Iberian Peninsula
Etermar Energia and Qair have signed an agreement to collaborate on floating offshore wind projects in the Iberian Peninsula, strengthening their strategic ambition in this rapidly expanding market.
en_1140928540
ENERCON Returns to Romania with a 38 MW Wind Project
After 12 years of absence, ENERCON signs a contract for a 38 MW wind farm in Romania under the PNRR program.
en_1140900540
ENERCON Returns to Romania with a 38 MW Wind Project
After 12 years of absence, ENERCON signs a contract for a 38 MW wind farm in Romania under the PNRR program.
en_1140900540
The United Kingdom Reaches a Historic Milestone in Wind Power Production and Electricity Exports
With 22 GW produced in a single day, the United Kingdom asserts itself as a leader in wind power. The growth in its exports to Europe marks a strategic advance in the energy transition.
en_1140893540
The United Kingdom Reaches a Historic Milestone in Wind Power Production and Electricity Exports
With 22 GW produced in a single day, the United Kingdom asserts itself as a leader in wind power. The growth in its exports to Europe marks a strategic advance in the energy transition.
en_1140893540

Vestas secures a contract for the Inch Cape offshore wind project in Scotland

Vestas will supply 72 turbines for the Inch Cape offshore wind project in Scotland, a firm 1.1 GW contract signed with Inch Cape Offshore Limited, a joint venture between ESB and Red Rock Renewables.
US Plans New Offshore Wind Auction in Gulf of Mexico for 2026
Hecate Energy and Invenergy show interest in offshore wind projects in the Gulf of Mexico, prompting US authorities to schedule an auction for 2026 despite political and economic uncertainties.
en_1140889540
US Plans New Offshore Wind Auction in Gulf of Mexico for 2026
Hecate Energy and Invenergy show interest in offshore wind projects in the Gulf of Mexico, prompting US authorities to schedule an auction for 2026 despite political and economic uncertainties.
en_1140889540
Voltalia sells a 12 MW wind farm in Charente to CNR
Voltalia, an international renewable energy company, sells the La Faye wind farm in Charente to the Compagnie Nationale du Rhône (CNR) while ensuring its technical management through Greensolver.
en_1140809540
Voltalia sells a 12 MW wind farm in Charente to CNR
Voltalia, an international renewable energy company, sells the La Faye wind farm in Charente to the Compagnie Nationale du Rhône (CNR) while ensuring its technical management through Greensolver.
en_1140809540
Agreement Signed to Develop the First 102 MW Wind Farm in Khanh Hoa Province
Nexif Ratch Energy and Khanh Hoa Province have signed a memorandum of understanding to develop a 102 MW wind power project, marking a major step forward in diversifying the region's energy mix in Vietnam.
en_1140807540
Agreement Signed to Develop the First 102 MW Wind Farm in Khanh Hoa Province
Nexif Ratch Energy and Khanh Hoa Province have signed a memorandum of understanding to develop a 102 MW wind power project, marking a major step forward in diversifying the region's energy mix in Vietnam.
en_1140807540

Canada: B.C. launches 9 wind energy projects to power 500,000 homes

Nine wind energy projects approved in British Columbia will boost the power grid by 8%, generating 5,000 gigawatt-hours annually, equivalent to the consumption of 500,000 homes. Eight of these projects include 51% Indigenous ownership.
No Offers for Denmark’s Largest Offshore Wind Farm
Despite its 6 GW potential, Denmark’s largest offshore wind project received no offers during the auction. This setback highlights the economic challenges facing the European wind energy sector.
en_1140768540
No Offers for Denmark’s Largest Offshore Wind Farm
Despite its 6 GW potential, Denmark’s largest offshore wind project received no offers during the auction. This setback highlights the economic challenges facing the European wind energy sector.
en_1140768540
The AfDB Funds a Historic 1.1 GW Wind Project in Egypt
The African Development Bank grants a $170 million loan for the Suez Wind Energy project. A strategic step to strengthen Egypt's leadership in renewable energy.
en_1140738540
The AfDB Funds a Historic 1.1 GW Wind Project in Egypt
The African Development Bank grants a $170 million loan for the Suez Wind Energy project. A strategic step to strengthen Egypt's leadership in renewable energy.
en_1140738540
MARA invests in a wind farm in Texas to support its mining operations
MARA Holdings acquires a wind farm in Texas with 114 MW capacity, aiming to reduce energy costs and optimize its ASIC equipment for cryptocurrency mining.
en_1140748540
MARA invests in a wind farm in Texas to support its mining operations
MARA Holdings acquires a wind farm in Texas with 114 MW capacity, aiming to reduce energy costs and optimize its ASIC equipment for cryptocurrency mining.
en_1140748540

Envision Energy invests in a wind turbine and energy storage factory in Kazakhstan

Envision Energy signs an agreement with Samruk Energy and Kazakhstan Utility Systems to launch a local manufacturing plant, aiming to strengthen Kazakhstan’s energy capacity and reduce dependency on imports.
ERG completes the repowering of the Salemi-Castelvetrano wind farm in Sicily
ERG has finalized the modernization of the Salemi-Castelvetrano wind farm in Sicily, increasing its capacity to 75.6 MW with 18 new turbines and an annual production of 208 GWh, supporting the energy transition.
en_1140673540
ERG completes the repowering of the Salemi-Castelvetrano wind farm in Sicily
ERG has finalized the modernization of the Salemi-Castelvetrano wind farm in Sicily, increasing its capacity to 75.6 MW with 18 new turbines and an annual production of 208 GWh, supporting the energy transition.
en_1140673540
Swedish Defense Blocks Offshore Wind Farms in the Baltic Sea
Offshore wind farm projects in the Baltic Sea are deemed incompatible with Sweden's national defense due to the disruptions they would cause to critical military sensors.
en_1140621540
Swedish Defense Blocks Offshore Wind Farms in the Baltic Sea
Offshore wind farm projects in the Baltic Sea are deemed incompatible with Sweden's national defense due to the disruptions they would cause to critical military sensors.
en_1140621540
Masdar and Silk Road Fund partner to invest USD 2.8 billion in renewable energy
Masdar and Silk Road Fund sign a strategic agreement to co-invest up to USD 2.8 billion in renewable energy projects, targeting primarily developing countries as part of the global energy transition.
en_1140589540
Masdar and Silk Road Fund partner to invest USD 2.8 billion in renewable energy
Masdar and Silk Road Fund sign a strategic agreement to co-invest up to USD 2.8 billion in renewable energy projects, targeting primarily developing countries as part of the global energy transition.
en_1140589540

Octopus Energy and Skyborn: A Strategic Partnership for Offshore Wind in France

Octopus Energy, in partnership with Skyborn Renewables, qualifies for the ninth offshore wind tender in France. This collaboration marks a significant milestone for Octopus in its international renewable energy expansion.
Moray West: Final Offshore Wind Turbine Installed, a Key Milestone for Ocean Winds
Ocean Winds celebrates the installation of the final turbine at the Moray West offshore wind farm in Scotland, marking a major step towards full commissioning scheduled for 2025. This project highlights technological innovations and significant economic impacts.
en_1140483540
Moray West: Final Offshore Wind Turbine Installed, a Key Milestone for Ocean Winds
Ocean Winds celebrates the installation of the final turbine at the Moray West offshore wind farm in Scotland, marking a major step towards full commissioning scheduled for 2025. This project highlights technological innovations and significant economic impacts.
en_1140483540
Alcazar Energy partners with Egypt for a 2 GW wind project
Alcazar Energy Partners signs a memorandum of understanding with EETC and NREA to develop a 2 GW onshore wind farm in Egypt, supporting the country's energy transition and its 2030 sustainability vision.
en_1140467540
Alcazar Energy partners with Egypt for a 2 GW wind project
Alcazar Energy Partners signs a memorandum of understanding with EETC and NREA to develop a 2 GW onshore wind farm in Egypt, supporting the country's energy transition and its 2030 sustainability vision.
en_1140467540
Donald Trump’s Re-election: A Challenge for RWE and Siemens Energy’s Offshore Wind Projects
Donald Trump's victory raises concerns for RWE and Siemens Energy about their offshore wind projects in the United States, facing administrative delays and trade tensions.
en_1140448540
Donald Trump’s Re-election: A Challenge for RWE and Siemens Energy’s Offshore Wind Projects
Donald Trump's victory raises concerns for RWE and Siemens Energy about their offshore wind projects in the United States, facing administrative delays and trade tensions.
en_1140448540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS