Ørsted deems impairment of Sunrise project a one-off
The Danish utility rules out any major future impairments in the US offshore wind portfolio. ”If we had expected more impairments, we would have completed them now,” says CFO.
BY VIKTOR BRANDT KÆRGAARD, TRANSLATED BY CHRISTOFFER ØSTERGAARD
Yesterday Ørsted flung a form of doubled-charged accounting bomb. On one hand, preliminary financial results showed that the Danish utility had secured its ”highest EBITDA to date” thanks to farm-downs. On the other, the news revealed that Ørsted has had to recognize a DKK 2.5bn (EUR 336m) impairment from the US offshore wind project Sunrise Wind.
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