EnBW has decided to withdraw from the Mona and Morgan offshore wind projects in the UK after not securing Contracts for Difference (CfDs) in the UK’s seventh allocation round. The company says that in a challenging investment environment, the two projects are no longer economically viable as per EnBW’s criteria.
EnBW has been developing the two projects with a potential total capacity of 3 GW in the Irish Sea since 2021, together with Jera Nex BP. Last year, the partners obtained development consent for both projects from the Secretary of State.
In July 2025, the 1.5 GW Mona was the first offshore wind project from the UK’s Round 4 leasing round to receive a Development Consent Order (DCO) . The 1.5 GW Morgan offshore wind farm secured a DCO in September 2025.
“The primary reason for EnBW’s withdrawal is that the two projects did not receive government support through so-called ‘Contracts for Difference’ in the recently completed allocation round of the UK Department of Energy Security and Net Zero” , EnBW said in an investor notice on 15 January.
“In combination with other factors beyond its control, this implies that the projects are no longer economically viable as per EnBW’s standards and criteria. These include increasingly deteriorating conditions such as significant cost increases across the supply chain, higher interest rates and ongoing project implementation risks.”
The company’s withdrawal from the Mona and Morgan projects results in an impairment of EUR 1.2 billion in EnBW’s annual report 2025, with the extraordinary write-down being outside the scope of adjusted EBITDA and having no cash effect. EnBW’s forecast range for adjusted EBITDA of EUR 4.8 to 5.3 billion for the financial year 2025, therefore, remains unchanged, the company noted.