Orsted Cuts Earnings Guidance Following Lower Summer Wind Speeds
By Dominic Chopping
Orsted cut its full-year earnings guidance on Friday following lower-than-normal offshore wind speeds during July and August.
The Danish renewable-energy company said the lower wind speeds across its offshore portfolio will impact earnings before interest, taxes, depreciation and amortization by around 1.2 billion Danish kroner ($187.3 million) this year. A construction delay at the Greater Changhua 2b offshore wind farm in Taiwan will also hit earnings by around 300 million kroner, it said.
Full-year Ebitda excluding new partnerships and cancellation fees is now expected at between 24 billion and 27 billion kroner, from previous guidance of 25 billion to 28 billion kroner.
Gross investments guidance of 50 billion to 54 billion kroner remains unchanged.
The news comes as the company prepares to raise $9.4 billion through a rights issue, seeking new funds to shore up its balance sheet in response to industry challenges.
Orsted has previously been hit by supply chain and construction challenges at U.S. projects, while the industry is also facing headwinds from a Trump administration that is opposed to wind energy. The U.S. government recently ordered Orsted to halt work on the Revolution Wind project, a key offshore wind farm off Rhode Island.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
September 05, 2025 02:22 ET (06:22 GMT)
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