Ørsted takes $1.7B hit on U.S. offshore wind projects (Pink Limited Info:DNNGY)


Large transfer vessel Normand Jarstein standing by Orsted wind turbine farm Borkum Riffgrund 2. Wind turbines are in the row behind the ship. Sky is moody.

CharlieChesvick/iStock Unreleased via Getty Images

Danish energy company Ørsted (OTCPK:DNNGY) reported an impairment of DKK 12.1B (~$1.7 billion) for Q4, primarily due to challenges in its U.S. offshore wind projects.

The setback is attributed to several factors, including rising U.S. interest rates, the devaluation of seabed leases, and increased


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