Vattenfall has become the latest developer of wind farms to report that rising costs are undermining the economics of offshore projects. The Swedish e.
A string of major projects are under threat from spiralling costs, sclerotic planning rules and shrinking subsidies. Industry sources warn that it risks tilting the economics into negative territory. “Things are very hard out there right now,” one source says. chemes developed by Ørsted, Vattenfall and Red Rock Power are among those understood to be most at risk, despite them only winning subsidy contracts last year. Adding to concerns is a sense that ministers are not listening to the industry’s warnings, with more than one senior figure describing Shapps as a “remote” figure who rarely meets with them.