{"id":1980871,"date":"2023-07-23T17:12:04","date_gmt":"2023-07-23T21:12:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sweden-axes-unprofitable-uk-wind-farm-plans-in-defiance-of-globalists-green-energy-agenda\/"},"modified":"2023-07-23T17:14:28","modified_gmt":"2023-07-23T21:14:28","slug":"sweden-axes-unprofitable-uk-wind-farm-plans-in-defiance-of-globalists-green-energy-agenda","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sweden-axes-unprofitable-uk-wind-farm-plans-in-defiance-of-globalists-green-energy-agenda\/","title":{"rendered":"Sweden cancels UK wind farm plans due to lack of profitability, defying global green energy agenda."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsweden-axes-unprofitable-uk-wind-farm-plans-in-defiance-of-globalists-green-energy-agenda%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1980871&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>The Harsh Winds of \u2064Fiscal Reality Halt Swedish Company&#8217;s Massive Wind Energy Farm Plans<\/h2>\n<p>The harsh winds of fiscal reality have halted a Swedish company\u2019s plans for a massive wind energy farm off the British coast in \u200cthe North Sea.<\/p>\n<p>The Swedish company Vattenfall is halting all \u2062work on the Norfolk Boreas windfarm, which was \u200bsupposed to supply\u2063 power to \u20631.5 million \u2062British\u2063 homes, according to the <a href=\"https:\/\/www.theguardian.com\/business\/2023\/jul\/20\/giant-windfarm-norfolk-coast-halted-spiralling-costs-vatttenfall\" target=\"_blank\" rel=\"noopener\">Guardian<\/a>.<\/p>\n<blockquote>\n<p>\u201cIt \u200csimply doesn\u2019t make sense to continue this project,\u201d said Anna Borg, Vattenfall\u2019s\u2063 chief executive.<\/p>\n<\/blockquote>\n<p>The project \u2064is no longer financially feasible, because costs rose 40 \u200dpercent, \u2064according to \u2063 <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-20\/vattenfall-stops-uk-offshore-wind-farm-plans-due-to-costs#xj4y7vzkg\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n<blockquote>\n<p>The\u200c decision forces\u200c Vattenfall to eat a $536 million loss.<\/p>\n<\/blockquote>\n<p>\u201cAlthough demand for fossil-free electricity is greater than ever, the market for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-top-energy-regulator-lobbied-for-company-behind-admin-approved-wind-farm\/\" title=\"Biden\u2019s Top Energy Regulator Lobbied for Company Behind Admin-Approved Wind Farm\">offshore wind power<\/a> is challenging,\u201d Borg\u2064 said. \u201cHigher inflation and capital costs are \u2062affecting the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-is-truly-clueless-about-inflation\/\" title=\"Biden Is Truly Clueless About Inflation\">entire energy sector<\/a>, but the\u2062 geopolitical situation has made offshore \u200dwind and its supply chain particularly vulnerable.\u201d<\/p>\n<p>The <a href=\"https:\/\/group.vattenfall.com\/who-we-are\" target=\"_blank\" rel=\"noopener\">company is owned<\/a> \u2063by the Swedish government.<\/p>\n<p>Last month, <a href=\"https:\/\/www.westernjournal.com\/sweden-stuns-europe-major-push-back-globalist-agenda-warns-western-nations-follow-suit\/\" target=\"_blank\" rel=\"noopener\">Sweden<\/a> handed the green movement a setback by changing \u200cthe nation\u2019s goal from \u201c100% renewable\u201d \u200cto \u201c100% fossil-free\u201d electricity, which officials said paved the way for an increase in nuclear power.<\/p>\n<p>The website <a href=\"https:\/\/slaynews.com\/news\/sweden-dumps-climate-agenda-scraps-green-energy-targets\/?utm_source=mailpoet&#038;utm_medium=email&#038;utm_campaign=daily-newsletter\" target=\"_blank\" rel=\"noopener\">Slay News<\/a> reported that Finance Minister Elisabeth Svantesson called <a href=\"https:\/\/www.westernjournal.com\/woman-puts-73k-solar-panels-roof-knows-something-went-horribly-wrong-power-bill-doesnt-drop\/\" target=\"_blank\" rel=\"noopener\">wind and solar \u2064power<\/a> \u200d too \u201cunstable\u201d and\u200b that \u201csubstantial\u200d industrialized economies\u201d required\u200d what she called a \u201cnuclear\u200b pathway\u201d in order to \u201cremain industrialized and\u2062 competitive.\u201d<\/p>\n<blockquote>\n<p>Borg \u200bsaid it was \u2064\u201cso obvious to everyone that the situation has changed dramatically since last year,\u201d \u2062meaning the\u2062 price the company would get for the \u200dpower it produced would need to be \u201csignificantly\u2062 higher,\u201d according to the Guardian.<\/p>\n<\/blockquote>\n<p>\u201cThe market framework is simply not \u200dreflecting the market situation,\u201d Borg said. \u201cSomething needs \u2062to happen. It\u2019s important to understand that our suppliers are being squeezed. They have problems in their\u2064 supply chain so \u2063it\u2019s not so easy to mitigate these\u200b situations.\u201d<\/p>\n<p>The project is designed to have \u2063between 90 and 156 wind turbines, that stand as tall as 350 meters,\u2062 to the <a href=\"https:\/\/www.edp24.co.uk\/news\/23667775.vattenfall-norfolk-boreas-wind-farm-scheme-halted\/\" target=\"_blank\" rel=\"noopener\">Eastern Daily Press<\/a>.<\/p>\n<p>According to Bloomberg, rising costs for \u200cmaterials, logistics and financing are posing daunting challenges for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-to-review-30-million-acres-of-ocean-for-potential-wind-farms\/\" title=\"Biden Administration To Review 30 Million Acres Of Ocean For Potential Wind Farms\">offshore wind development<\/a>.<\/p>\n<p>Britain has set a goal of increasing\u2063 its <a href=\"https:\/\/www.westernjournal.com\/wind-energy-company-pay-35-million-mass-killing-bald-eagles\/\" target=\"_blank\" rel=\"noopener\">offshore wind<\/a> capacity to \u200d50GW by a 500 percent increase over current levels.<\/p>\n<p>Jess Ralston, the head of energy at the think tank the\u00a0Energy\u00a0and\u2064 Climate Intelligence \u2062Unit2030, said the <a href=\"https:\/\/www.westernjournal.com\/new-study-spell-trouble-future-wind-energy\/\" target=\"_blank\" rel=\"noopener\">British government<\/a> needs to set a higher price for wind projects than was offered to the\u200b Swedish company, according to the <a href=\"https:\/\/www.bbc.com\/news\/uk-england-norfolk-66263340\" target=\"_blank\" rel=\"noopener\">BBC<\/a>.<\/p>\n<blockquote>\n<p>\u201cCosts of wind farms have been driven up by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sweden-axes-unprofitable-uk-wind-farm-plans-in-defiance-of-globalists-green-energy-agenda\/\" title=\"Sweden cancels UK wind farm plans due to lack of profitability, defying global green energy agenda.\">ongoing high gas prices causing supply chain inflation<\/a>, just like for other industries,\u201d Ralston \u200csaid.<\/p>\n<\/blockquote>\n<p>\u201cIf the government gets the policy wrong on the current round of renewables auctions and doesn\u2019t keep pace with\u200d increasing costs, the UK could end up\u2063 even more reliant\u2064 on foreign gas, leaving households on the hook with higher bills,\u201d \u200bRalston said.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/sweden-axes-unprofitable-uk-wind-farm-plans-defiance-globalists-green-energy-agenda\/\">Sweden \u200dAxes\u2063 &#8216;Unprofitable&#8217; UK Wind Farm Plans In Defiance of Globalist&#8217;s Green Energy \u2063Agenda<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Swedish company Vattenfall has stopped its plans for a large wind energy farm off the British coast due to financial constraints. The Norfolk Boreas windfarm, intended to power 1.5 million UK homes, has been halted, as reported by the Guardian. The harsh fiscal reality has forced this decision.<\/p>\n","protected":false},"author":661,"featured_media":1980872,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-1980871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1980871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1980871"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1980871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1980872"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1980871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1980871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1980871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}