TOP STORIES

Eneco and Equinor quit 4GW Dutch offshore tender

RICHARD HEAP

March 28, 2024

Dutch utility Eneco and Norwegian oil giant Equinor have pulled out of the 4GW IJmuiden offshore wind tender in the Netherlands because subsidies are too low.

Eneco announced today that it was concerned about the financial risks in the tender because subsidies have been “reduced to nothing”. It said: “The current approach to offshore wind power is not future proof, including high interest rates, the cost of equipment and supplies, and the uncertain electricity market.”

The Netherlands Enterprise Agency (RVO) launched the tender last month for the IJmuiden Ver Alpha and Beta sites, each of which can accommodate up to 2GW of offshore wind capacity. Eneco was due to bid in the tender with Equinor.

Read more