"This wind power company just took a $1.7 billion write-down — and that excludes Trump executive order impact"

And the hits just keep on coming. The stock is down 14.80% today and down over 70% from its 2022 high.

BigCharts

From MarketWatch, January 21: 

Orsted blames rising interest rates and project delays

Shares of Orsted fell as much as 18% on Tuesday after announcing a 12.1 billion Danish kroner ($1.7 billion) write-down that the Danish wind power company said didn’t include the impact of an executive order signed by President Donald Trump.

Orsted took a 4.3 billion kroner write-down from the rise in long-dated U.S. interest rates, a 3.5 billion kroner hit from the reduced valuation of its seabed leases off the coasts of New Jersey, Maryland and Delaware, and a 4.3 billion kroner impairment on delayed commissioning and higher-than-expected project costs for Sunrise Wind, a project 30 miles east of Long Island’s Montauk Point.

“The Sunrise Wind impairment is particularly disappointing as it further exemplifies the execution risks within U.S. offshore wind and will be unhelpful for the case for U.S. offshore wind development,” said analysts at Jefferies.

Analysts at JPMorgan said the announced impairments were three times more than they expected from the move in bond yields alone....

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