The world’s biggest offshore wind farm, off the coast of Norfolk, will be scrapped unless the government offers tax breaks to offset soaring costs.
Orsted, the Danish renewable energy company, said that sharp rises in construction and financing costs meant it was no longer viable to build Hornsea Three on the terms agreed with the government last summer.
The £8bn wind farm, about 75 miles off the coast of Norfolk, will have a capacity of 2.9 gigawatts, generating enough electricity to supply more than 2m homes.
