Ørsted A/S (0RHE.IL)
- Reuters
Orsted must restore investor confidence, says new chair
Denmark's Orsted must restore investor confidence, new chair Lene Skole said on Tuesday after a shareholder meeting elected her to oversee the offshore wind power giant's turnaround drive. She takes the role as the world's largest offshore wind farm developer looks to bounce back from a string of losses and project cancellations. Late last year, the company scrapped two U.S. offshore wind projects.
- Reuters
Wind power giant Orsted appoints CFO, head of operations
Denmark's Orsted announced a new chief financial officer and head of operations on Tuesday as the world's largest offshore wind farm developer looks to bounce back from a string of losses and project cancellations. Rising inflation, interest rate hikes and supply chain snags have squeezed offshore wind developers facing growing demand. Orsted appointed Trond Westlie as CFO, a post he held at Danish shipping giant A.P. Moller-Maersk and Norway's Telenor.
- Reuters
S&P downgrades Danish wind power firm Orsted on U.S. offshore risks
S&P said Orsted's business risk profile has weakened from last year, but was still satisfactory. It expects the world's biggest offshore wind farm developer would be able to successfully manage the substantial industry risks it faces. The offshore wind industry has been struggling with rising inflation, interest rate hikes and supply chain delays, which have endangered plans by U.S. President Joe Biden and several states to replace fossil fuels with offshore wind to fight climate change.
