News Formal

Orsted shares tumble after company ditches two US wind projects

  • 📰 IrishTimes
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 98%

United States News News

United States United States Latest News,United States United States Headlines

Danish developer will take a charge of $4bn as challenges at its US business deepen

The world’s largest offshore wind developer Orsted has abandoned two key US projects and announced a higher than expected writedown of its portfolio, sending shares in the group down more than 20 per cent.

The company had warned in August that it expected to write down the value of its US assets by a potential DKr16bn because of problems with Ocean Wind 1 and other projects. The group’s shares, which are listed in Copenhagen, were down by a fifth in early trading, extending their drop this year to 57 per cent.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Want to start your own food business? These entrepreneurs have some advice for youThree of the current participants in the accelerator programme Food Works share their story
Source: businessposthq - 🏆 8. / 71 Read more »