Oil & gas giant Equinor said it will “indefinitely” delay plans for development of the massive Trollvind floating offshore wind project off Norway in a blow to one of the flagship initiatives in the sector.

The Norwegian group said the postponement “is based on several challenges facing the project, including technology availability, rising cost and a strained timetable to deliver on the original concept.”

The 1GW Trollvind plan was unveiled in June 2022 as one of the most ambitious in the global floating wind sector, both in terms of its ambition to help decarbonise a large swathe of Norwegian oil & gas production, and with its hopes to be up and running as soon as 2027.