Tag Archives: halt dividends
Orsted, months after a $4 billion write-off on offshore wind, decides to cut jobs, halt dividends, and quit several markets
Orsted has struggled to keep its promising wind projects alive in recent times. High costs tied to Inflation, elevated interest rates, and supply crunches took a toll on Orsted as it wrote off $4 billion linked to two large New Jersey wind projects in October. At the time, the company described America as the “most painful part of its portfolio” that it would have to make that hard decision of de-risking from—a blow for President Joe Biden’s administration that had pinned great hopes to the country’s investment in green energy. more, >> click to read<< 12:13
