The offshore wind industry had been lulled into a false sense of security through cheap money and a deflationary services market, Orsted’s outgoing interim COO Andy Brown said today.
By Seb Kennedy, associate editor of E-FWD and founding editor of Energy Flux News
If governments are serious about achieving decarbonisation targets, there needs to be an honest conversation about how to do so in an environment of perennial macroeconomic uncertainty.
Orsted A/S (CPH: ORSTED) shares slumped to their lowest level in six years after the Danish utility dropped two US wind projects and recorded 28.4 billion kroner ($4 billion) in impairments as the crisis in the wind industry is only getting worse.
With the results of the first ScotWind offshore licensing round now imminent, it is perhaps worth having a wee cogitate about what the sustainable benefits or otherwise could accrue to Scotland.