Work halted on huge windfarm in North Sea amid rising costs
Energy giant Orsted has said it is stopping work on one of the UK’s biggest upcoming offshore wind projects, in a blow to the Government’s clean energy plans. The world’s largest offshore wind developer said it will halt its Hornsea 4 project, a massive, planned wind farm in the North Sea that could have powered more than one million homes. Orsted said the project had suffered rising supply chain costs, higher interest rates and increasing risk of not finishing the project on time. It said the problems had “increased the execution risk and deteriorated the value creation of the project”. Video, more, >>CLICK TO READ<< 06:50
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