Orsted ousts CEO, appoints company insider as new boss
Denmark's Orsted said on Friday its CEO Mads Nipper would step down and be replaced by company insider Rasmus Errboe in a bid to resurrect the renewable energy company which has seen its shares plummet some 83% from its 2021 peak.
Ørsted plunges after write-down - dragging Vestas down with it
Danish energy company Ørsted plummets on the stock market, dragging Vestas down with it. Ørsted falls 16.6 percent, while Vestas drops 4.5 percent. The background is that Ørsted has announced that it will take write-downs of DKK 12.1 billion in the fourth quarter, equivalent to about SEK 18.6 billion. There are several reasons for the write-downs, with the company pointing to rising interest rates, a reduction in the valuation of the US portfolio and rising costs for delivering the Sunrise Wind project off the east coast to New York's Long Island.
Orsted shares down 17% as US project stumbles, Trump's anti-wind power policy hits
Shares in the world's largest developer of offshore wind Orsted plunged 17% on Tuesday after warning late on Monday of higher costs and delays to a crucial U.S. offshore project.
Orsted flags impairments of about $1.7 billion on US rate increases
Denmark's Orsted announced on Monday an impairment charge of 12.1 billion Danish crowns ($1.69 billion) in the fourth quarter due to U.S. interest-rate increases.
Orsted price target lowered to DKK 365.41 from DKK 4,000 at Barclays
Barclays lowered the firm's price target on Orsted to DKK 365.41 from DKK 4,000 and keeps an Equal Weight rating on the shares. The firm says European utilities "remain in the foothills of a super-cycle." Regulated is now Barclays' preferred sub-sector and generators earnings "continue to unwind," the analyst tells investors in a research note. Barclays sees possible upside surprises from balance sheet clarity, low European expectations and capacity payments.
Equinor raises Orsted stake to 10%, as planned
Equinor said on Monday it has bought an additional stake of 0.2% in Danish energy group Orsted , raising its ownership to 10%, in line with the Norwegian group's previously stated intention.
Orsted divests 50% stake in three US onshore projects for $572 mln
Denmark's Orsted said on Wednesday it would divest a 50% equity stake in three U.S. onshore projects to Energy Capital Partners for $572 million.
Orsted sells 50% stake in Greater Changhua 4 wind farm for $1.64 bln
Denmark's Orsted said on Wednesday it has agreed to sell a 50% stake in its Greater Changhua 4 offshore wind farm to Taiwan's Cathay Life Insurance for about 11.6 billion Danish crowns ($1.64 billion).
Orsted Q3 operating profit falls slightly below expectations
Orsted , the world's biggest offshore wind farm developer, on Tuesday reported third-quarter operating profit slightly below expectations and narrowed its full-year profit forecast.
European Stocks Edge Higher; Orsted (ORSTED) Soars on Equinor Deal
European stocks made a slight recovery, reversing earlier losses, as a series of trade announcements improved market sentiment. Signs that the European Central Bank is gearing up for interest rate cuts further buoyed the market.
Equinor buys 9.8% stake in Orsted
Norway's Equinor said on Monday it has bought a 9.8% stake in Danish renewable energy group Orsted and plans to raise this to 10%, making it the second largest shareholder after the Danish state.
Orsted CEO on Sustainable Energy and AI's Power Needs
Orsted A/S President and CEO Mads Nipper says AI-fueled demand for power across the US has yet to trickle down to the offshore wind market. He speaks on "Bloomberg The Close.
