Danish firm suspends offshore wind projects - News Summed Up

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Danish firm suspends offshore wind projects

The wind energy giant has formally informed its local supply chain to halt execution of contracts, despite work being well under way, the Liberty Times said. The company is also considering renegotiating terms of other contracts that are not yet in the works, the newspaper said. It also came a day after the Fredericia, Denmark-based company signed a memorandum of understanding with Tokyo Electric Power Co, the largest power company in Japan, to work jointly on the Choshi offshore wind project near Tokyo. The Ministry of Economic Affairs in April last year awarded Orsted contracts for two wind projects that were to generate 900MW of electricity in 2021, with total investment of up to NT$165 billion (US$5.35 billion). The impasse between the central and local governments also prevented CIP, Hai Long Offshore Wind (海龍) and China Steel from securing power purchase agreements at last year’s rate.

Source: Taipei Times January 20, 2019 15:56 UTC