Orsted Halts Work on Giant UK Wind Farm Citing Rising Costs

‘Adverse macroeconomic developments, continued supply chain challenges, and increased execution, market and operational risks’ are an issue, Orsted’s CEO said.

Turbines at Orsted's offshore wind farm near Nysted, Denmark, on Sept. 4, 2023. Tom Little/Reuters

The world’s largest offshore wind developer is discontinuing work on a giant UK project in its current form because of rising costs and the risk of delays.

Orsted announced on May 7 that it is pulling out of its flagship 2.4-gigawatt (GW) Hornsea Project 4, which was granted a contract only last year.