WindAction | Plans stopped on one of UK's biggest wind farms as costs soar
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 Boreas site, Vattenfall said, and will review two other projects in the area, known as Vanguard East a...
Source: windaction.org
