(IN BRIEF) Ørsted has decided to discontinue the Hornsea 4 offshore wind project due to increased costs, higher interest rates, and elevated risks, making the project’s current execution untenable. The company plans to explore alternative options for the project while … Read the full press release
Posted in Business, Denmark, Economy, Energy, Gas & Oil, Financial, Government, Industrial, Infrastructure & Utilities, Investment, Management, Marketing, News, Technology, United Kingdom
Tagged breakaway costs, CFD, Contract for Difference, energy transition, Hornsea 4, Offshore wind, partnership, project discontinuation, Rasmus Errboe, risks, supply chain, sustainability, UK, wind energy, Ørsted
(IN BRIEF) Ørsted has secured Contracts for Difference (CfDs) from the UK Department for Energy Security and Net Zero for significant portions of its Hornsea 3 and Hornsea 4 offshore wind farms. Hornsea 3, set to become the world’s largest … Read the full press release
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