Big Read: Ill wind of inflation is blowing through the offshore energy sector

With major projects being scrapped and others becoming unviable, the offshore wind energy sector is at crisis point

Between 2010 and 2021, offshore wind development costs plunged 60 per cent but now a surge in financing costs has seen developers back out of contracts

Mads Nipper is long enough working in the energy sector to know the signs when storm clouds are gathering on the horizon.

Unfortunately for the chief executive of Orsted, the Danish offshore renewable energy giant, the current storm building won’t help generate cheap, clean wind energy.

Instead, Nipper is facing a desperate fight to hold on to his job as Orsted grapples with a mounting crisis over the viability of its project pipeline. Last month, ...