Orsted, a European wind giant, has announced a halt in dividend payments until at least 2025, along with plans to trim new green power projects. The company is also exiting several offshore wind markets, including Norway, and slowing down projects elsewhere. It has cut its wind installation guidance by approximately 30% for 2030, resulting in 800 job losses and the departure of the chairman. Siemens Energy is also set to decide on the sale of revised onshore turbines this year.
Ørsted takes drastic measures: cuts jobs and exits offshore wind markets https://t.co/jHap2UAHKW https://t.co/payYXXHyc8
Renewables giant Orsted exits several offshore wind markets, pauses dividend after turbulent year https://t.co/vM5VXMlmuW
Siemens Energy to decide this year when to start selling revised onshore turbines https://t.co/p4yc6qsnHY https://t.co/rvYQbtksxq
Offshore wind firm Orsted cuts investment, capacity targets after review https://t.co/qBTwzMGa54 https://t.co/ib4DfGFRrP
Ørsted axes dividend, cuts jobs and exits offshore wind markets https://t.co/q1gstL4iPd
European Wind giant Orsted is out with another shocker: Dividend suspended for 2023, 2024 **and** 2025 It exits several markets, including Norway Slows down projects elsewhere Guidance for wind installation cut by ~30% for 2030 Job losses: 800 Chairman out (but CEO still there)
Orsted will pause dividend payments until at least 2025 and trims plans to build new green power projects this decade https://t.co/kLbiqCyyl3