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Wednesday
01 Nov 2023

‍Orsted to Cease Development of Some U.S. Offshore Wind Projects

01 Nov 2023  by reuters   

A view of the turbines at Orsted's offshore wind farm near Nysted, Denmark, September 4, 2023. REUTERS/Tom Little/File Photo Acquire Licensing Rights
Denmark's Orsted (ORSTED.CO) said on Wednesday that it will cease development of its U.S. offshore wind projects Ocean Wind 1 and 2, and is taking a final investment decision on Revolution Wind.

The company said that it recognized a 28.4 billion Danish crowns ($4.03 billion) impairment charge for the first nine months of 2023 that is mostly related to Ocean Wind 1.

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