Page 4 - Anna Borg News Today

Renewable energy race heating up 2023-07-26

UK energy firm Octopus Energy plans to unleash $20 billion in investments into offshore wind.

The government’s green energy ambitions have been dealt a blow after plans for a giant offshore windfarm off the Norfolk coast ground to a halt due to spiralling supply chain costs and rising interest rates. The Swedish energy giant Vattenfall said it would stop work on the multibillion-pound Norfolk Boreas windfarm, designed to power the equivalent of 1.5m British homes, because it was no longer profitable.

The race to net zero is leading us into a financial quicksand, sucking in vast resources for a future that will never materialize as envisaged.

Slashdot reader sonlas writes: The governments green energy plans faced a setback as the Norfolk Boreas offshore windfarm project by Vattenfall was halted due to soaring supply chain costs and rising interest rates. Vattenfalls chief executive Anna Borg said: "Its important to understand that our...

Work has stopped on one of the UK’s largest offshore wind farms after its developer said that the cost of the project had soared by so much it no longer made financial sense to push forward. Swedish energy giant Vattenfall, one of Europe’s biggest wind producers, said that the market conditions had deteriorated since it signed a contract that fixes the price of the electricity it sells for 15 years. It will shut down work on the development of the Norfolk Bo...

Vattenfall's President and CEO Anna Borg comments on the interim report for January-June 2023:Compared to 2022, electricity prices in the Nordics have almost halved, while the difference betwe. . .

In terminating the 1.8-GW Norfolk Boreas project, Sweden-based Vattenfall AB said it is writing off $530 million in costs and termination fees.

Vattenfall stops work on the Norfolk Boreas offshore wind farm over soaring costs.

Vattenfall stops work on the Norfolk Boreas offshore wind farm over soaring costs.