Orsted will “see more value creation” elsewhere in the world unless the UK offshore wind market sees changes to project permitting times and renewable energy auction pricing, said the Danish group's chief financial officer (CFO).

Daniel Lerup claimed there is a danger the fifth round of contract-for-difference (CfD) awards currently underway will fail to award the capacity the British government hopes, given what he said were “very challenging” administrative strike prices – a maximum payout set for each renewable technology – facing offshore wind at a time of massive financial pressure on developers.