Mitsubishi-owned Dutch utility Eneco said it and its partner Equinor will pull out of the 4GW Dutch offshore wind tender for the Ijmuiden Ver (Far) offshore wind zone that closes today, arguing that due to “deteriorated market conditions, the current [Dutch] approach to offshore wind is not future-proof”.

“These circumstances include high interest rates, high material costs and an uncertain electricity market,” Eneco said in a five-page appeal for a “new contract for offshore wind” to ensure that the development of offshore wind remains feasible in future tenders.