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Ørsted (OTCPK:DNNGY) has pulled out of a group that was due to bid for offshore wind projects in Norway, one of its partners said Monday, in the latest effect of the company’s struggles from sharply higher costs.
Ørsted (OTCPK:DNNGY) told Reuters it decided not to prioritize offshore wind development in Norway for now as it seeks to adjust its business development and bidding activities.
The world’s largest offshore wind developer had teamed with Fred. Olsen Seawind and Norwegian power producer Hafslund to form the Blaavinge consortium in 2021 to take part in planned offshore wind tenders in Norway.
The government had set a November 15 deadline for submitting interests to pre-qualify for a bottom-fixed offshore wind tender, where it plans to offer support for building up to 1.5 GW of capacity.
Ørsted (OTCPK:DNNGY) recently killed two U.S. offshore wind projects, as costs ballooned due to rising interest rates and supply bottlenecks.
