Ørsted downgrades long-term return forecast for offshore wind
New figures show a historic undervaluation of negative effects from offshore wind generation, prompting the utility to revise its long-term targets in the negative direction and kick-start a round of cost-cutting measures.
BY MAZ PLECHINGER
Tuesday at noon, Ørsted launches a most noteworthy triple-stage rocket – a rocket that has not only exploded into magnificent colors, but has also turned out to be something of a dud that caused the utility's share price to slide by around 10 percent. Ørsted downgrades its long-term return guidance to 7-8 percent from 7.5-8.5 percent and sets off to cut costs totaling DKK 500-600 million for the period 2020-'22.
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