Swedish state-owned energy group Vattenfall announced days ago that it was suspending a major offshore wind project, citing "unsustainable investment conditions" in the country.
The Kriegers Flak project, planned off the southwest coast of Sweden, was to produce electricity from 2028 and generate 2,7 terrawatt hours per year, equivalent to the annual consumption of around 500.000 homes, according to Vattenfall.
The project is adjacent to existing wind farms on the Danish and German sides of the Kriegers Flak reef, according to the group's statement.
The Swedish group describes it as "the most mature offshore wind project" in the country, but believes that "the investment conditions for offshore wind are currently not viable in Sweden".
"Vattenfall has therefore decided to suspend the development of this project," he adds.
The project could restart if conditions improve, he said, adding that "one of the main conditions for investment is that there is a reasonable point of connection to the national grid at sea."
Vattenfall says it is developing offshore projects in Sweden that have the potential to produce 18 TWh by 2035.
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