© Reuters. FILE PHOTO: A view of the turbines at Orsted's offshore wind farm near Nysted, Denmark, September 4, 2023. REUTERS/Tom Little/File PhotoOrsted, the world's largest offshore wind developer, said in August it may see impairments of 16 billion Danish crowns on its U.S. offshore developments due to supply chain problems, soaring interest rates and a lack of new tax credits.
Analysts said Orsted has already warned it will write down at least 5 billion Danish crowns and noted that those impairments could reach as much as 16 billion Danish crowns if interest rates in the U.S. are above a certain level. Norway's Equinor, BP's partner on those New York offshore wind developments, booked a $300 million impairment on the projects on Friday.
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