O&r;sted to Revisit Hornsea 4 Wind Farm Amid Miliband’s £95/MWh CfD Subsidy Boost

ORsted, the world's largest wind farm operator, is set to re-submit plans for the Hornsea 4 project in May 2026 following Chancellor Ed Miliband’s announced £95 per megawatt hour minimum subsidy under the Contracts for Difference (CfD) program and a 15-year-to-20-year extension of payment guarantees. The 180-turbine, 2.4 gigawatt project off the coasts of Norfolk and Yorkshire would supply power to about 2.6 million homes. ORsted cancelled the project in 2025, citing insufficient CfD support that had previously averaged £85/MWh. The government has estimated the expanded CfD program will cost up to £1.8 billion annually, to be funded via a levy on consumer and business power bills. The Office for Budget Responsibility projects CfD generator costs will rise to about £6 billion by 2030 as new wind farms come online. ORsted’s financial results released on February 6, 2026, reflected a hit in its U.S. operations due to Trump-administration restrictions on offshore wind projects.