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Orsted shares drop over 2% as company halts British wind farm project

Published 07/05/2025, 08:48
© Reuters.
ORSTED
2.61%

Investing.com -- Shares in Danish renewable energy company Orsted (CSE:ORSTED) have fallen by more than 2% following the company’s announcement that it will cease its Hornsea 4 offshore wind farm project in Britain.

Orsted has projected that the discontinuation of the project will result in break-away costs ranging from DKK 3.5 to 4.5 billion ($534 to $686 million).

The company also anticipates an EBITDA impact of DKK 3 to 3.5 billion.

In related news, Orsted has stated that U.S. tariffs have led to increased costs in its Sunrise Wind and Revolution Wind projects.

This has resulted in impairments of DKK 1.2 billion.

This statement came after the company reported a Q1 operating profit that exceeded expectations.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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