Bank: Low prices make the US less attractive short-term

A surprisingly low price lead to Vineyard Wind's victory in the first major US offshore wind tender in Massachusetts. Meanwhile, Danish Ørsted walked away empty-handed after learning that competition is tough.
Photo: PR Ørsted
Photo: PR Ørsted
by ritzau finans

The low price for Vineyard Wind highlights that, from the very start, there is tough competition in getting a foothold in the US, a new market for offshore wind, says Sydbank's Ørsted analyst, Morten Imsgard. He does not consider it unthinkable that Danish utility Ørsted, which has thus far left the first tender round in the US empty-handed, will be rethinking its strategy.

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