Big Blow to UK’s Green Dreams as Costs Skyrocket

[rangerrebew]

Big Blow to UK’s Green Dreams as Costs Skyrocket
5 hours ago Charles Rotter 57 Comments

https://www.ft.com/content/f9d0f4f9-6d95-44a9-924b-d88627fd6485
In a delightfully illustrative episode of reality biting back, one of the UK’s largest of fshore wind farm projects has ground to a halt, not because of a lack of wind, but due to an unabating gust of rising costs. The illustrious Swedish energy group, Vattenfall, has put a stop to work on its 1.4GW Norfolk Boreas site, following a 40% surge in project costs. Clearly, “going green” isn’t as financially breezy as some might have you believe.

Quoting Anna Borg, Vattenfall’s CEO:

“What we see today, it simply doesn’t make sense to continue this project.”

https://www.ft.com/content/f9d0f4f9-6d95-44a9-924b-d88627fd6485
This halt throws a monkey wrench into the UK’s fervent ambition to triple its offshore wind capacity by 2030 in order to decarbonize its electricity system. All this, while the cost efficiency and reliability of these grand projects remain questionable.

https://wattsupwiththat.com/2023/07/21/big-blow-to-uks-green-dreams-as-costs-skyrocket/