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COPENHAGEN - Danish renewable energy company Ørsted A/S has reduced its full-year 2025 EBITDA guidance to DKK 24-27 billion from the previous DKK 25-28 billion, primarily due to lower-than-normal offshore wind speeds during July and August, according to a press release issued Friday.
The company reported that weaker wind conditions across its offshore portfolio had an adverse EBITDA impact of approximately DKK 1.2 billion relative to normalized wind speeds. A delay in the Greater Changhua 2b construction project in Taiwan will also negatively impact EBITDA by about DKK 0.3 billion.
Despite the guidance adjustment, Ørsted maintained its gross investments guidance of DKK 50-54 billion for 2025 and stated that the current situation is not expected to affect its medium-term targets.
The company also provided updates on several key projects. The Greater Changhua 2b offshore wind project in Taiwan has been delayed from late 2025 to Q3 2026 due to damage to an export cable. Additionally, Revolution Wind LLC, a joint venture between Ørsted and a consortium led by Skyborn Renewables, filed a legal complaint on September 4 challenging a stop-work order from the U.S. Bureau of Ocean Energy Management.
At an extraordinary general meeting held today, shareholders were asked to authorize the Board of Directors to issue new shares with pre-emptive rights. The proposed rights issue aims to strengthen Ørsted’s capital structure following what the company described as "recent material adverse development in the US offshore wind market."
The Danish State, Ørsted’s majority shareholder, has expressed support for the proposal, according to the statement.
Ørsted is currently constructing 8.1 GW of offshore wind projects, which will nearly double its installed capacity once completed.
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