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Fed chair: "It is unlikely the next policy move will be a hike"

Norway's Equinor granted permission for two extensions in Britain

Reuters
·1 min read

HELSINKI (Reuters) - Norway's Equinor has been granted a development consent for two extensions on offshore wind projects in Britain, the energy producer said in a statement on Thursday.

"With these extensions, Equinor’s wind farms in Norfolk will power nearly 1.5 million households," Equinor said in a statement, adding more assessments would still need to be done before deciding to invest.

Currently, the Sheringham Shoal and Dudgeon offshore wind farms on the North Norfolk coast provide power to some 710,000 UK homes, the company added.

Equinor has said it remains committed to developing offshore wind power production despite lower returns caused by rising inflation, higher interest rates and supply chain delays.

(Reporting by Essi Lehto, Editing by Nick Zieminski)