A huge offshore wind farm set to be anchored on the Humber could be put on hold if further government support isn’t forthcoming.
Orsted’s Hornsea Three offshore wind farm set a new record to deliver cheaper green energy last year, but huge pressures on the supply chain are being felt by the present economic situation.
The 2.8GW project is double the size of the first two Hornsea projects operated and maintained from Grimsby, and was awarded a new low subsidy price of £37.35 last summer in the fourth auction round held by government. But those numbers were crunched before the Russian invasion of Ukraine sent inflation soaring. A final investment decision has yet to be taken by the Danish giant on the consented scheme, with Orsted having returned record earnings of £3.8 billion in 2022.
