Wind energy
Sweden’s Vattenfall stops work on large British wind farm, cites soaring costs
The energy giant said costs for the offshore wind industry had risen 40 per cent
The Swedish firm behind one of Britain’ largest wind farms has stopped work on the project, and said costs had soared by so much it no longer made financial sense to push forward.
Vattenfall, one of Europe’s biggest wind producers, said that 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 ...
