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Orsted ( (DOGEF) ) has issued an update.
Ørsted has decided to discontinue the Hornsea 4 offshore wind project in the UK due to increased supply chain costs, higher interest rates, and elevated risks associated with the project’s execution and value creation. Despite this setback, Ørsted remains committed to the UK offshore wind market and plans to explore future development options for Hornsea 4. The company anticipates incurring significant financial impacts, including break-away costs and asset write-downs, but maintains its overall financial guidance for 2025.
More about Orsted
Ørsted is a global leader in renewable energy, focusing on the development, construction, and operation of offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants. Headquartered in Denmark, Ørsted is recognized for its commitment to climate action and has a validated net-zero emissions target. The company is listed on Nasdaq Copenhagen and employs approximately 8,300 people.
Average Trading Volume: 53,426
Technical Sentiment Signal: Sell
Current Market Cap: DKK112.4B
For an in-depth examination of DOGEF stock, go to TipRanks’ Stock Analysis page.