Denmark's Orsted said on Thursday it has been granted a 1.6 gigawatt (GW) electricity business licence (EBL) in South Korea for an offshore wind project located 70 km (43 miles) off the coast of Incheon City. Subject to a final investment decision, the project is expected to be South Korea's largest offshore wind project when completed in the early 2030s, Orsted said. The project will support Incheon's net-zero carbon emissions goal with a capacity to provide renewable energy to over a million households while reducing the emissions by some 4 million tonnes annually, the company said in a statement.
HELSINKI (Reuters) -Denmark's Orsted said on Tuesday its finance and operations chiefs were stepping down with immediate effect after the offshore wind farm developer earlier this month reported large financial losses due to delays with U.S. projects. The offshore wind industry has found itself in a perfect storm of rising inflation, interest rate hikes and delays in the supply chain struggling to cope with growing demand. "Orsted, along with the rest of the industry, is experiencing a challenging and volatile business environment," CEO Mads Nipper said in a statement.
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