EnBW Scraps Two Offshore Wind Projects After Missing UK Support

EnBW Energie Baden-Württemberg AG has halted two UK offshore wind projects after failing to secure government support in the latest allocation round, triggering mandatory impairments worth billions of euros.

The German utility will not build Mona and Morgan, which together had a potential capacity of three gigawatts, the company said in a statement. EnBW cited rising supply-chain costs, lower wholesale power prices, higher interest rates and ongoing execution risks, saying these factors meant the projects no longer met its economic criteria.