The modelling used by Orsted “was not sophisticated enough”, said its finance chief as she insisted the sector leader's decision to cut long-term production forecasts won’t throw the industry off course.

Marianne Wiinholt said detailed investigations this year and last led Orsted to conclude it had underestimated the impact of wake and blockage effects on offshore turbine output, the main element in a reduction of long-term forecast returns from a string of projects and a 2% cut in lifetime load factor estimates to 48%.