Orsted Cancels Major UK Offshore Wind Farm as Costs Jump (2)

Orsted A/S canceled plans for a huge offshore wind farm in the UK, a significant blow to the nation’s plans to boost the clean energy source in the coming years.

It’s the latest setback for the offshore wind sector, which has struggled to cope with soaring costs in recent years. The Hornsea 4 project, with a capacity of 2,400 megawatts, would have been one of the world’s biggest offshore wind farms and a critical part of Britain’s plans for a clean power grid. But Orsted said the project no longer made economic sense, even with a contract to sell power ...