Danish firm shelves huge UK windfarm project over rising costs

The wind turbines of Hornsea 1. The final investment decision for Hornsea 4 was due later this year. Photograph: Orsted/EPA

The world’s biggest wind power developer has cancelled plans for one of the UK’s largest offshore windfarms, in a significant blow to the government’s green energy targets.

The Danish wind power company Ørsted said the Hornsea 4 project no longer made economic sense because of soaring costs in the industry’s global supply chain, after it won a government contract last year.