Orsted foresees up to $2.3bn impairment on US offshore wind projects

Orsted warned Tuesday that it anticipated up to DKr5bn ($730m) impairments on its near-term US offshore wind portfolio due to “supplier delays”, which could rise another DKr6bn if certain projects don't receive federal investment tax credit (ITC) adders, and a further DKr5bn on rising financing costs. Total impairment could reach $2.34bn.

Orsted has said it concluded that there is “a continuously increasing risk in these suppliers’ ability to deliver on their commitments and contracted schedules.”