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Giant UK offshore wind farm ‘at risk without government support’ 

Credit:  Dimitris Mavrokefalidis | Friday 3 March 2023 | energylivenews.com ~~

Rising supply chain costs and other financial pressures are threatening the development of what could be the world’s largest offshore wind farm off the coast of Britain.

The Hornsea Three Offshore Wind Farm is expected to have a capacity of almost 3GW and generate enough energy to power three million homes.

Energy giant Orsted, which is behind the construction of the massive wind farm, has said it needs more government support to achieve project progress.

In a statement, Duncan Clark, Head of Orsted UK & Ireland, said: “Since the auction, there has been an extraordinary combination of increased interest rates and supply chain prices.

“Industry is doing everything it can to manage costs on these projects but there is a real and growing risk of them being put on hold or even handing back their CfDs.”

Mr Clark has called on the government to offer targeted support on investments such as tax breaks.

A government spokesperson told ELN: “The government is encouraging investment in renewable generation including through £30 billion to support the green industrial revolution, and just last year our renewable energy auctions contracted record amounts of clean energy.

“We are working together with the sector on how we can further increase our energy security and independence through greater renewable deployment.”

Source:  Dimitris Mavrokefalidis | Friday 3 March 2023 | energylivenews.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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