Europe has long been a leader in wind power, with countries like Denmark and Sweden at the forefront of building offshore wind farms. These wind farms are crucial for cutting down on the use of fossil fuels, and helping the planet stay green. But now, these countries are facing unexpected challenges, and the future of wind power might not be as bright as we thought.
The Shocking Truth: Denmark’s Wind Auction Gets No Bids
Denmark, a country that generated an impressive 58% of its electricity from wind last year, recently held a major auction to find companies that would invest in new offshore wind projects. But something strange happened: there were no bids. Yes, no companies wanted to invest in the project. Why? The prices they would get for the electricity just aren’t high enough to make it worth the investment.
State-owned Ørsted A/S, one of the world’s biggest energy companies, said the conditions were simply unattractive. The problem is that there’s already too much w...
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