Biden s wind energy plans in peril as Orsted abandons 2 major U S projects – NaturalNews com naturalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalnews.com Daily Mail and Mail on Sunday newspapers.
Orsted A/S shares slumped to their lowest level in six years after the Danish utility dropped two US wind projects and recorded 28.4 billion kroner ($4 billion) in impairments as the crisis in the wind industry worsens. The huge writedown is deeper than investors and analysts feared and just the latest in a string of bad news from an industry vital to slow global warming. Surging costs and rising interest rates have led to project delays and Germany’s Siemens Energy AG is in talks with the government to help shore up its balance sheet.
Orsted A/S shares slumped to their lowest level in six years after the Danish utility dropped two US wind projects and recorded 28.4 billion kroner ($4…
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.