There are growing doubts over the government’s ability to meet its net zero targets after the company behind one of Britain’s biggest-ever wind farms abruptly pulled the plug on the project, citing overwhelming cost pressures.

Orsted will abandon a major offshore wind farm project in Britain, it said on Wednesday, citing a deteriorating global business environment for developing renewable energy. Orsted's market value has fallen by around 80% from its 2021 peak as costs have risen,

Orsted A/S canceled plans for a huge offshore wind farm in the UK, a significant blow to the nation’s plans to boost the clean energy source in the coming years.