Shares in Denmark-listed Ørsted plunged nearly 20% to their lowest in more than six years after the world’s biggest offshore wind farm developer abandoned two U.S. projects and said it would take a 28.4 billion Danish crown ($4 billion) impairment charge.
The green energy group DK:ORSTED said it was pulling out of the Ocean Wind 1 and 2 developments off the coast of New Jersey — and reviewing its U.S. portfolio — due to higher borrowing costs, supply chain delays and changes to its assumptions regarding construction permits…
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