Wind turbines off of Block Island

Orsted reduces investment and capacity goals for offshore wind energy expansion

Orsted, the world’s largest offshore wind developer, has lowered its investment and capacity targets, suspended dividends, and plans to sell assets worth around 115 billion kroner by 2030. The company also announced job cuts and plans to withdraw from markets in Norway, Spain, and Portugal. Confidence in Orsted has taken a hit, but the company remains committed to its goal of being the global leader in offshore wind energy.

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