Norwegian oil and gas giant Equinor said it will “indefinitely” delay plans for development of the massive Trollvind floating offshore wind project off Norway in a blow to one of the flagship initiatives in the sector.

The Norwegian group said the postponement “is based on several challenges facing the project, including technology availability, rising cost and a strained timetable to deliver on the original concept.”

The 1-gigawatt wind farm project was unveiled in June 2022 as one of the most ambitious in the global floating wind sector, both in terms of its ambition to help decarbonise a large swathe of Norwegian oil & gas production, and with its hopes to be up and running as soon as 2027.