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Coup: Orsted is the largest developer of offshore wind energy
Orsted, the world’s largest offshore wind developer, has abandoned plans for a mega-plant to develop green fuels, becoming the latest company to scale back its commitments to shift to cleaner energies such as hydrogen and wind power.
A centre was being built in Sweden for use by sectors ranging from shipping to aviation.
By combining hydrogen and carbon dioxide, the facility would have produced 55,000 tonnes per year of e-methane.
But chief executive Mads Nipper said: “The business case has deteriorated due to the inability to sign long-term offtake contracts at sustainable prices and significantly higher project costs.”
The measure to halt the work has cost 172 million pounds.
Orsted is a major player in the sector and plans to build an £8bn offshore wind farm in the North Sea by the end of 2027 to power more than 3.3 million UK homes.
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