UK Net-Zero Goal at Risk as Ørsted Cancels Offshore Wind Project ...Middle East

OILPRICE - Economy
UK Net-Zero Goal at Risk as Ørsted Cancels Offshore Wind Project
source : OILPRICE ( Middle East ) () 129
There are growing doubts over the government’s ability to meet its net zero targets after the company behind one of Britain’s biggest-ever wind farms abruptly pulled the plug on the project, citing overwhelming cost pressures. Denmark-based Ørsted, which won the contract to develop the 2.4GW Hornsea 4 offshore windfarm last year, said it took the decision due to “supply chain costs, higher interest rates, and an increase in the risk to construct and operate Hornsea 4 on the planned timeline.” The move marks the latest…

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