Following a global strategic review, BlueFloat Energy has taken the decision to cease the development of offshore wind projects in New Zealand.
The cancelling of these plans concerns sites off the coast of Taranaki and Waikato.
BlueFloat Energy said it continues to believe offshore wind offers a strategic opportunity for New Zealand, in terms of both decarbonisation and economic development.
“However, our decision to cease developments here reflects a number of key uncertainties about how the market for offshore wind will develop in the country – including both route to market and allocation of seabed.
“We encourage the New Zealand government to continue its efforts to establish an enabling regulatory regime for offshore wind and to support the industry in overcoming these uncertainties,” a statement from the company said.
BlueFloat Energy added it is grateful to the many stakeholders who have supported its efforts over the last three years.
Going forward, the developer said it will be focusing its attention on the most advanced projects in its portfolio.