Global giant Orsted said it won’t take part in the next stage of Taiwan’s offshore wind tender programme, in a blow to the island’s ambitions in the sector that follows criticism by the Danish group of the way the auction is designed.

Taiwan aims to spur 3GW further offshore wind in the first auction under its Round 3 process, which has an overall ambition to see 9GW of extra offshore wind added to the 5.5GW already underway.

Per Mejnert Kristensen, head of region Asia-Pacific at Orsted said: “As the largest and most experienced offshore wind developer in Taiwan, we had to take stock of the limitations set by the current regulation, which in combination with high inflation and increasing interest rates led us to conclude, after exhausting all efforts, that we cannot make the projects investable at this...