The Swedish state-owned power utility Vattenfall has halted the development of the 1.4 GW Norfolk Boreas offshore wind project off the coast of Britain (United Kingdom), which resulted in a negative impact on earnings of SEK5.5bn (€477m). In addition, the company will assess the future prospects for the entire Norfolk zone, including the Vanguard East and West projects (2.8 GW). Collectively, these three projects were expected to generate about 4.2 GW of electricity.
The Norfolk Boreas project was part of the Norfolk Offshore Wind Zone, as the Norfolk Vanguard project, and it won a contract-for-difference (CfD) in 2022, guaranteeing a minimum price of £37.35/MWh in 2012 prices for the electricity produced equivalent to around £45/MWh today (€52/MWh). In December 2022, the group had announced that it would increase the capacity of the Norfolk Offshore Wind Zone from 3.6 GW to over 4.2 GW. The project, located about 72 km from the Norfolk coast, was expected to start construction in 2023 and produce its first power in 2027.
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