Orsted A/S shares dropped to a six-year low after New York regulators rejected a cost adjustment for offshore wind farms, prompting investor fears about a further writedown for one of the company’s US projects. .Orsted already warned of impairments of as much as 16 billion Danish kroner ($2.3 billion) to its US portfolio in August. The New York ruling deals another blow to the Sunrise Wind project, which was already being held up by supplier delays. The adjustments sought by Orsted, Equinor ASA and others would have burdened consumers with as much as $12 billion in added costs.
Orsted Slumps as US Wind Cost Ruling Stokes Writedown Fear bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
By Dominic Chopping Shares in Orsted are among the biggest fallers this morning after New York regulators denied requests from offshore wind developers to give them a higher price for.
Ørsted plunges after New York wind rejection; Eversource cut at Guggenheim (OTCMKTS:DNNGY) seekingalpha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seekingalpha.com Daily Mail and Mail on Sunday newspapers.