Volvo D4 Audible alarm

CorkBouy

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When returning from a trip to west Cork yesterday in a big sea and 20Kts of wind I was cruising at around 14Kts when an audible alarm came on and the enging revs / speed dropped to limp mode. When I pressed the "D" button on the EVC the alarm cleared and I again tried to bring the engine back up to power but as soon as I went over 2000 revs the same alarm / Limp mode came on. The orange light next to the "D" button on the EVC is then flashing constantly and clears once I press the button.
I then restarted it and drove all the way back at around 1700 revs at 7-8Kts boat speed.
The temperature and oil pressure both were reading normal and when I returned to the marina I also checked the oil and coolant levels which seemed OK.
I returned this evening to try it again from cold and the same alarm cam on except this time it went all the way to 3200 revs and took a minute or two after reaching full speed for the alarm to come on and go in to limp mode. The longer I kept the engine running the sooner the alarm returned at just above 2000 revs.
Could this possibly be a faulty sensor and where would I be likely to find them on the engine?
Thanks in advance for any help.
 
I think the flashing amber light is the fault code. Count the number of flashes and cross-reference to the error code in the manual. Does your display include an Error Log screen?
 
I think the flashing amber light is the fault code. Count the number of flashes and cross-reference to the error code in the manual. Does your display include an Error Log screen?
The amber light is flashing continuously once the alarm sounds. I don’t have an error log screen.
 
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