Offshore wind developer Kontiki Winds has officially ceased its operations, as confirmed by its parent company, Havfram, on November 3. This decision comes as a result of a comprehensive review of Havfram's global business strategy, which determined that early-phase development projects no longer align with the company's future direction.
A spokesperson for Havfram explained that their review revealed that “early phase development is not a good fit for Havfram in the future.” This strategic shift reflects the evolving dynamics and challenges associated with early-stage development projects within the offshore wind industry.
In an online statement, Kontiki Winds' Vice President of Offshore Wind Development, Rick Campbell, acknowledged the well-known difficulties faced by early-phase developers and highlighted that different market conditions might have yielded a more favorable outcome for the company. The decision to discontinue operations is seen as a response to the current industry landscape and market dynamics.
Notably, this development followed shortly after Kontiki Winds had withdrawn from a joint bid with RWE and NTE for the 1.5-gigawatt Utsira Nord floating offshore wind tender in Norway. The company, incorporated in September 2022 with its registered office in Aberdeen, has taken this step in alignment with the evolving business priorities of its parent company, Havfram.
