Eneco drops out of tender for massive Dutch offshore wind farm [Reuters]
Equinor ASA (EQNR)
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Source: Reuters
Eneco's decision is a setback for the Dutch government, given the company's previous support in the rollout of offshore wind power over the past decade. The company has four offshore wind farms in the Dutch part of the North Sea and is constructing a fifth. It had planned to bid for the new 4 gigawatt (GW) wind farm spread over two locations 60 km (37 miles) off the Dutch coast, together with Norwegian oil and gas group Equinor (EQNR.OL) , opens new tab However, Eneco has decided that the business case for a bid has been eroded due to rising raw material costs, uncertainty over electricity prices and demand, high interest rates and supply chain problems. Eneco called on the government to reconsider the design of its offshore wind tenders, saying they focus too much on the price builders are willing to pay. It also said tenders for the wind farms are now too large and should be limited to about 1 GW to reduce risk. The tender for the 4GW project, the Netherlands' largest so
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