(News Bulletin 247) – The group also announced asset write-downs of 3.8 billion euros linked to the abandonment of this project.

After the cancellation of a huge offshore wind farm project in the United States and writedowns of 3.8 billion euros, the Danish group Orsted, specializing in renewable energies, plummeted on the Copenhagen Stock Exchange on Wednesday.

Around 4:10 p.m., the stock lost 23.5% in a flat market.

During the night, Orsted announced that it was abandoning the Ocean Wind 1 and 2 projects, two wind farms which were to be installed off the coast of New Jersey (north-east).

In total, the two fields were to have a capacity of 2,248 gigawatts (GW), enough to power more than a million homes.

The decision will force the company to write down assets of 28.4 billion Danish crowns, or approximately $4 billion or 3.8 billion euros.

Income halved

Between July and September, the group recorded a loss of 22.6 billion crowns, compared to profits of 9.3 billion a year earlier.

Over the quarter, turnover was almost halved, to 19 billion crowns.

In Europe, wind power is in difficulty despite the ambitions of States to green their energy sources.

At a time when the sector needs to invest massively to meet expected demand, it is caught up by soaring interest rates and material costs.

(With AFP)