Orsted's U.S. Struggles Deepen as Trump Derails Offshore Wind Ambitions

Europe's wind energy and renewable companies were pressured after President Trump signed an executive order on Monday to halt US offshore wind lease sales in federal waters temporarily. Adding to the industry-wide gloom, Danish offshore wind developer Orsted revealed impairment charges that exceeded Wall Street analyst expectations.  Shares of Orsted plunged as much as 18% in Copenhagen - the most since November 2023 - after the company revealed an impairment charge worth 12.1 billion Danish kroner ($1.68 billion) at its troubled US unit. …