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Orsted’s Final Investment Decision for Hornsea 3 Offshore Wind Farm: What It Means for the Industry

“Orsted has made the final investment decision” for the Hornsea 3 offshore wind farm, the group said in a press release. The park will be built off the northeast coast of England and will contain up to 231 wind turbines. These will have a capacity of 2.9 gigawatts, which corresponds to the average consumption of more than three million households. The park should be operational by the end of 2027.

Doubts had arisen as to whether Orsted would be able to complete the project financially, after the group recently had to abandon a major wind turbine project in the United States. The sector, which is considered crucial to achieving climate goals, is experiencing difficult times due to high commodity prices and rising interest rates.

Orsted currently operates twelve offshore wind farms in Great Britain, including Hornsea 1 and 2. The Belgian dredging company DEME was involved in the installation of the foundations and turbines for both parks.

2023-12-20 16:02:48
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