Ørsted hit by extensive cable malfunction

The utility has identified an error on up to ten European offshore wind farms that could prompt the cables between turbines to fail. So far, a provision of EUR 107m has been booked, but the price could end up increasing significantly.

Photo: Ørsted

So far, Hornsea 1 has been a veritable gold mine for Ørsted. With a current price of GBP 164.96 per MWh, the British offshore wind farm of 1,218 MW has contributed to the utility's largest divestment, as half of the farm was sold for GBP 4.46bn, while the remaining half guarantees many years of constant earnings.

Or it should, at any rate – but Hornsea 1 has also been the center of some problems. Not least of all pertaining to its role in the comprehensive power blackout that hit the UK in the fall of 2019, for which Ørsted agreed to pay GBP 4.5bn as it was responsible for the farm shutting down.

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