By Paul Homewood
h/t Paul Kolk
Another wind developer pulls the plug!
From the Telegraph:
Surging costs are making offshore wind projects unaffordable, industrial giant Mitsubishi has warned.
The Japanese company on Wednesday pulled out of a trio of major schemes in its home country, blaming inflation, higher interest rates and stretched supply chains.
Mitsubishi had originally committed to the projects in late 2021 but said the business environment had “significantly changed” since then.
The company added: “We have determined that establishing a viable business plan is not feasible given the current conditions.”
It is the latest blow to the global offshore wind industry as companies battle financial and political turbulence.
Full story here.
As usual, the Telegraph’s commenters sum it up best:
Click this link for the original source of this article.
Author: Paul Homewood
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