Denmark’s Orsted (ORSTED.CO), the world’s largest offshore wind farm developer, said on Wednesday it may see U.S. impairments of 16 billion Danish crowns ($2.3 billion) due to supply chain problems, soaring interest rates and a lack of new tax credits. Orsted’s share price tumbled 20% to its lowest level in more than four years and is down almost 70% from its 2021 peak. The company’s Ocean Wind 1, Sunrise Wind, and Revolution Wind projects are adversely impacted by several supplier delays, which may trigger impairments of up to 5 billion crowns, the company said in a statement. Orsted said the company’s discussions with “senior federal stakeholders” on obtaining more U.S. tax credits for its offshore wind projects had not progressed as expected, which in turn could lead to impairments of another 6 billion crowns.
https://www.reuters.com/business/energy/denmarks-orsted-anticipates-730-mln-impact-us-portfolio-2023-08-29/