Turns out offshore wind power is more financial heartbreak than cash cow. Thanks to the phenomenal cost of repairing its undersea cables, Denmark’s Orsted is literally bleeding cash. The cost of fixing faulty cables connecting their turbines to each other and transmission facilities onshore is already in the hundreds of $millions, and set to rise rapidly over the next couple of years – estimated to be in the order of a further 3 billion Danish Kroner (US 491,434,000 or £350m) between now and 2023.
And Orsted’s costly cabling calamity isn’t limited to its Danish operations. It’s just bought into another financial disaster off Rhode Island, where the cost of cable repairs to keep a measly five wind turbine operation up and running is already north of $US80 million, and rising fast.
William Butler makes the connection between a brewing financial disaster and the dashed hopes of offshore wind power…
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Utopia, you are standing in it! 
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