President Biden's 'wind revolution' is blowing down as the world's largest offshore wind farm developer abandoned two major US projects due to supply chain and interest rate impacts and recorded impairment charges well above previous forecasts.
4b higher than Citi's forecast of DKK20b and consensus of DKK17b The recognition of deteriorating balance sheet and unachievable long-term targets is likely to put capital increase and further guidance cuts back on the table While Orsted release highlights the ongoing challenges of the offshore sector, there is only a limited read-across for Vestas.
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