Opergy Group expresses concerns over Vattenfall's decision to cancel Norfolk Boreas Offshore Wind Project

Johnathan Reynolds, Managing Director, Opergy Group and Martin Dronfield, Commercial Director, Opergy Group
Image credit: Opergy Group

The Opergy Group, a Norfolk headquartered leading consultancy in the UK's clean energy sector, expresses deep concern over Vattenfall's recent announcement to call off the development of the Norfolk Boreas offshore wind power project.

Johnathan Reynolds, Managing Director and LEP board member alongside Martin Dronfield, Commercial Director and EEEGR board member commented that "The decision comes as a blow to the UK's renewable energy ambitions and has far-reaching negative impacts on the UK supply chain and job market.

"Vattenfall's decision, driven by rising costs, has created a significant setback for the development of offshore wind power in the Norfolk region, and the UK.”

"The offshore wind industry has long been hailed as a driver of economic growth, providing a wealth of supply chain opportunities and supporting local communities. The cancellation of Norfolk Boreas deals a severe blow to the region's potential for job creation, stifling economic progress at a time when it is needed the most."

"Vattenfall's statement in its second-quarter results underscores the challenges faced by the offshore wind sector. Higher inflation and capital costs, coupled with geopolitical uncertainties and lack of political incentives, have made offshore wind and its supply chain particularly vulnerable. The reported cost increases of up to 40% are a clear indicator of the growing pressures that developers and investors face in this industry." 

"The Opergy Group calls upon the UK Government to take immediate action to address the issues plaguing the offshore wind sector. As the industry faces mounting challenges, it is crucial that the government demonstrates its commitment to renewable energy and provides the necessary support to ensure the continued growth and success of projects like Norfolk Boreas."

"We urge the government to work closely with industry stakeholders to create a stable and favourable investment environment. This should include measures to address the rising costs and supply chain vulnerabilities highlighted by Vattenfall. By doing so, the government can safeguard the UK's energy transition, protect jobs, and bolster the nation's position as a leader in offshore wind power."

The Opergy Group remains committed to the development of clean, sustainable energy solutions in the UK. We stand ready to collaborate with the government, industry partners, and local communities to overcome these challenges and secure a bright and prosperous future for the offshore wind sector.