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Danish offshore wind developer Orsted secured shareholder approval for a $9.4 billion emergency rights issue aimed at staving off a crippling credit downgrade as the Trump administration targets its US projects

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The UK bet its energy future on offshore wind. Massive projects like Hornsey and Dogger Bank were sold as the backbone of net zero. Billions were spent in subsidies, but the industry has just hit a wall. In the latest government auction, there wasn't a single developer bid. Turbine and maintenance costs went up, but subsidies didn't. Developers ran the numbers. The projects were unprofitable. Major offshore plans were cancelled or delayed, with companies like Orsted writing off billions in losses. Britain's cheap wind promise collapsed the moment it met real-world economics. Offshore wind is an expensive disaster.
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The UK bet its energy future on offshore wind. Massive projects like Hornsey and Dogger Bank were sold as the backbone of net zero. Billions were spent in subsidies, but the industry has just hit a wall. In the latest government auction, there wasn't a single developer bid. Turbine and maintenance costs went up, but subsidies didn't. Developers ran the numbers. The projects were unprofitable. Major offshore plans were cancelled or delayed, with companies like Orsted writing off billions in losses. Britain's cheap wind promise collapsed the moment it met real-world economics. Offshore wind is an expensive disaster.

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Going offshore in Ireland! 🇮🇪 We’ve just teamed up with @ESBgroup, Ireland’s leading utility, in a landmark deal to jointly develop an offshore wind portfolio off the Irish coast. More here 👉

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