SUBSCRIBE
PROFILE

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.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

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.

  • Popular on energynews.pro
TotalEnergies sells 40% of two Nigerian licences to Chevron in strategic deal
Ecopetrol targets 88.2 MWp with acquisition of seven solar projects in Colombia
Japan set to vote on partial restart of Kashiwazaki-Kariwa nuclear plant
Iran seizes Eswatini-flagged vessel for fuel smuggling
BW Ideol takes 15% stake in Méditerranée Grand Large floating wind project
RWE secures 68 MW of renewable capacity in Italy’s FER-X auction
RWE has secured contracts for four renewable energy projects totalling 68 MW in Italy, with construction set to begin in 2026, reinforcing its expansion strategy in the market.
RWE and TotalEnergies deploy 66 Reef cubes® for OranjeWind wind farm
RWE and TotalEnergies will install 66 Reef cubes® around the foundations of 11 turbines at the OranjeWind wind farm, marking one of the largest applications of artificial reefs in the North Sea.
Vattenfall launches a platform to reuse dismantled wind turbine components
Swedish energy group Vattenfall introduces "Rewind", an interactive platform designed to commercially repurpose technical parts from dismantled wind turbines.
Onshore wind in Southeast Asia held back by rigid policies and congested grids
The rapid growth of onshore wind in Southeast Asia is at risk due to inflexible public policies and inadequate power transmission infrastructure.
Enefit Green sells Finnish wind farm for EUR83mn to TD Greystone
Enefit Green has sold its only wind farm in Finland to Canadian fund TD Greystone Infrastructure Fund, refocusing operations on the Baltic states and Poland in a regional concentration strategy.
McDonald’s UK secures 15-year contract for electricity from Scottish wind farm
McDonald’s UK commits to purchasing all electricity from the Douglas West Extension Wind Farm, a 66 MW project developed by Capital Dynamics in Scotland, under a long-term agreement managed by ENGIE.
OX2 strengthens presence in Romania with 235 MW of acquired wind projects
Swedish developer OX2 acquires three onshore wind projects totalling 235 MW in Romania, pushing its portfolio beyond 1.1 GW in a rapidly growing market.
Vestas doubles production capacity in Poland to support German demand
Danish group Vestas is expanding its blade plant in Poland and creating more than 300 jobs to supply turbines to Germany, the leading onshore wind market in Europe.
Morecambe offshore wind project receives construction approval in the UK
The UK government has approved the development consent for the 480 MW Morecambe offshore wind farm, a project led by Copenhagen Infrastructure Partners and scheduled to enter construction in 2027.
Infinity Power launches construction of 200 MW wind farm in Egypt
Infinity Power has started work on its 200 MW wind project in Ras Ghareb, strengthening its position in the African market with technical support from China's POWERCHINA Huadong.
EIB and Crédit Agricole to mobilise €1 billion for European wind power by 2027
A partnership between the European Investment Bank and Crédit Agricole CIB aims to generate up to €8 billion in wind energy investments across the European Union through a bank guarantee mechanism.
EIB grants €600mn loan for BC-Wind offshore wind farm in Poland
With a €600mn ($652mn) contribution, the European Investment Bank becomes the main lender of the BC-Wind offshore wind project developed by Ocean Winds off the Polish coast.
Cadeler receives Wind Mover and doubles its fleet within twelve months
Cadeler has taken delivery of its tenth wind turbine installation vessel, Wind Mover, delivered ahead of schedule and immediately deployed in Europe, strengthening its capabilities amid rising industrial demand.
Levanta Renewables and Triconti launch major onshore wind project in the Philippines
Levanta Renewables partners with Triconti Windkraft Group to develop an onshore wind farm in Quezon province, scheduled to begin operations in 2028.
Octopus Energy mobilises $450mn for energy projects in sub-Saharan Africa
Octopus Energy joins a global initiative to accelerate renewable energy deployment in Africa, committing $450mn through its Power Africa programme to supply electricity to more than one million people.
Snowy Hydro signs 225 MW in 15-year wind and battery contracts
Australian energy provider Snowy Hydro has secured long-term agreements with Aula Energy and TagEnergy, adding 120 MW of wind power and 105 MW of battery storage to its national portfolio.
He Dreiht comes online as German offshore wind model faces deadlock
The He Dreiht offshore wind farm delivers its first MWh as the German auction model stalls, offering EnBW and its institutional investors a strategic showcase.
Ørsted and ESB secure 900 MW offshore contract off the coast of Ireland
The Irish government has provisionally awarded development rights for the Tonn Nua offshore site to the Ørsted-ESB joint venture under a 20-year contract supporting a 900 MW project.
Nordex secures 34 MW contract with Grupo Enhol for wind farm in Spain
Nordex Group will supply six turbines to upgrade a 34.2 MW wind farm in Caparroso, financed by the European Union under the NextGenerationEU plan.
Iberdrola sells 757 MW of French onshore assets to Technique Solaire
The Spanish group continues its asset rotation strategy by transferring its French onshore wind and solar portfolio to Technique Solaire, reinforcing its focus on offshore and regulated networks.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.