The world’s largest offshore wind developer has announced fresh writedowns on its US business, sending its shares down sharply as the inauguration of Donald Trump as president clouds the outlook for the renewables sector.
Ørsted announced impairments totalling DKr12.1bn ($1.7bn) on Monday evening, blaming interest rates, supply chain challenges and “market uncertainties” affecting the value of its seabed leases.
Ørsted’s Copenhagen-listed shares fell more than 17 per cent as the market opened on Tuesday morning, adding to their decline over the past year.
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