Director of offshore wind Paul Cowling claimed that German-owned firm RWE is still backing offshore wind and would be pressing ahead with other projects off Britain's coastline.
But it is not known if any other firm will take over the project to install windfarms off the coast of North Devon, which would have provided power for thousands of homes in the region.
Richard Sandford, head of European projects offshore at RWE, also denied that the Atlantic Array was dropped as part of a money saving drive at the company.
He told the Guardian: "This really is project-specific and not at all down to other considerations. We are still proceeding with schemes like Galloper and Triton Knoll, off the east coast of the country."
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