Orsted, the company developing the Norfolk coast windfarm, Hornsea 3, also suspended shareholder payments in an effort to strengthen its balance sheet.
In common with the industry more broadly, Orsted has been hit by high inflation, raised interest rates, project delays and supply chain difficulties in recent years.
Up to 800 jobs are to go as the company – which owns a big chunk of the UK offshore wind energy capacity – pulls out of the Spanish, Portuguese and Norwegian wind markets.
