Orsted plunges 20% on risk of $2.3 billion in US impairments

Denmark's Orsted, the world's largest offshore wind farm developer, warns of potential impairments of 16 billion Danish crowns ($2.3 billion) in its US operations due to supply chain issues, high interest rates, and a lack of new tax credits.

reuters.com

Relevant topic timeline:

8/30/2023

Orsted Shares Plunge as Company Warns of $2.3 Billion US Hit

Danish renewable energy company Orsted has experienced a record plunge in its shares due to supply chain issues and rising interest rates, leading to potential impairments of up to $2.3 billion in its US portfolio.

8/31/2023

N.J. gov supports offshore wind power as developer delays huge project to 2026

Danish renewable energy developer Ørsted is facing financial losses and potential cancellation of its offshore wind projects in New Jersey due to supply chain and other issues.

9/5/2023

Orsted CEO says abandoning US wind projects a 'real option'- Bloomberg News

Denmark's Orsted, the world's largest offshore wind farm developer, is considering walking away from projects in the U.S. unless the Biden administration provides more support.