Halted due to unviable investment prerequisites (Il Sole 24 Ore Radiocor) - New York, 02 Sep - Swedish State-owned power company Vattenfall has decided to halt the development of a large offshore wind power project until further notice. "The investment prerequisites for offshore wind in Sweden are currently not viable and Vattenfall has therefore decided to pause all further development of the project," the company said in a statement.

If conditions improved and the permits were still valid the project could be resumed, Vattenfall said.

Vattenfall has previously communicated that one of the main prerequisites for investing in the project is a reasonable connection point to the national grid offshore.

Swedish Kriegers Flak, Sweden's most mature offshore wind power project, is estimated to generate 2.7 TWh of fossil-free electricity per year.

AAA-Sje

(RADIOCOR) 02-09-24 19:16:27 (0506) 5 NNNN