Denmark postponed the public tender for its planned man-made energy island in the North Sea, saying that the finances behind the project are “challenged.”
The island, which is estimated to cost the Danish state more than 50 billion kroner ($7 billion), is in its current form “far from being profitable” and is too risky, the climate ministry in Copenhagen said in a statement on Wednesday.
The ministry, which has already delayed the tender once, said that more options for “a better and cheaper concept” will be “thoroughly analyzed.” It will decide on how to realize the project later this year.
The government is sticking to its ambition to build the island, which was first proposed in 2020, to utilize the large offshore wind potential in the North Sea, said Climate Minister Lars Aagaard.
“When we plan projects of this magnitude, we must of course ensure that we choose the most responsible solutions,” the minister said. “We are now taking a little longer to do that.”
