Orsted drops 15% after U.S. impairment

Vestas Wind Systems A/S

21/01/2025 08:21

(Updates share moves in 1 and 4)
    ** Shares in Orsted  ORSTED.CO  slump around 15% after the
Danish offshore wind farm developer announced an impairment
charge of 12.1 billion Danish crowns ($1.69 billion) related to
its U.S. offshore portfolio
    ** Barclays analysts noted the market was not expecting
further impairments from Orsted's seabed leases and Sunrise Wind
    ** "The write-downs related to the interest rates are
expected, but they are larger than I had expected," says Sydbank
analyst Jacob Pedersen
    ** Pedersen sees the losses of seabed leases as
"Trump-related", saying that "Oersted now has some assets in the
U.S. that are worthless, and that is because if there is nothing
to be built because of Trump, Oersted can neither sell nor use
them"
    ** President Donald Trump suspended new federal offshore
wind leasing 
    ** Shares in other wind power stocks, offshore wind farm
developer RWE  RWEG.DE  and turbine makers Siemens Energy
 SIEGn.DE , Nordex  NDXG.DE , Vestas  VWS.CO  slip 2.2%-4.4%
        ** Orsted's stock is trading at its lowest price since
Nov. 2023 and falls to the bottom of STOXX 600  .STOXX  index
  

    

 (Reporting by Vera Dvorakova)
 ((vera.dvorakova@thomsonreuters.com))