Energy giant Vattenfall is in early-stage talks to sell a massive wind farm project off the Norfolk coast after it halted work there last month, according to reports.

Bloomberg claims that the Swedish company has entered negotiations with potential buyers for its Norfolk Boreas site, and that “people familiar with the matter” believed the assets could draw interest from competitors.

Vattenfall halted the project in July, despite its advanced stage of development, blaming rising costs, which it said had soared by 40pc due to inflation.

The massive wind farm was given the government go-ahead in 2021 and major work, including digging trenches for cables, was due to commence this year.

The potential sale is one option among several for Vattenfall, including possibly restarting development itself if conditions improve, a source told Bloomberg.

A Vattenfall spokesman told Bloomberg: “We are evaluating all options to determine the best way forward for the whole Norfolk Offshore Wind Zone.”

“Options to deliver the projects as consented are being considered.”