Wind Power Giant’s Profit Hit by Rocks on the Seabed
- Wind developer Orsted found its subsea cables scraped by rocks
- Developer will spend as much as $490 million on repairs
Offshore wind farms involve a network of turbines with cables that connect to shore and into the power grid.
Source: Orsted
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Building power plants in the middle of the sea was never going to be easy.
The world’s largest developer of offshore wind farms Orsted A/S has found that some of its cables connecting to wind farms have been damaged by scraping against rocks on the seabed and will need to spend as much as 3 billion Danish kroner ($489 million) to fix them. It’s part of the growing pains for the offshore wind industry that’s become one of the fastest-growing sources of electricity.