The Low Carbon Contracts Company has cancelled a contract for difference with the Hexicon’s floating TwinHub proposed array off the coast of Cornwall.
Hexicon was awarded the contract in allocation round 4 in 2022.
A DESNZ spokesperson told reNEWS: “We are disappointed that TwinHub’s contract has been terminated.
“The Low Carbon Contracts Company manages contracts with developers independently of government and it is for them to determine whether a generator has met its contractual obligations.”
Contracts for difference are private law contracts between an electricity generator and the LCCC, manages CfDs independently of the government.
“The government continues to back floating offshore wind, with the largest pipeline of projects anywhere in the world,” the DESNZ spokesperson said.
Earlier this year, the Swedish developer posted an impairment of almost €11m linked to the CfD-backed 32MW TwinHub floating offshore wind project in the Celtic Sea.