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.

yahoo.com

Relevant topic timeline:

8/30/2023

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.

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.