Shift Key with Robinson Meyer and Jesse Jenkins cover image

Has Offshore Wind Finally Hit Rock Bottom?

Shift Key with Robinson Meyer and Jesse Jenkins

CHAPTER

Challenges faced by Orsted in the offshore wind industry

This chapter discusses the struggles of Orsted, the world's largest offshore wind developer, including job cuts, dividend suspension, and exit from European markets. It explores the reasons behind Orsted's financial losses, cancellation of projects in the US, and the penalties incurred for breaching contracts. The chapter also highlights the importance of offshore wind projects for climate change and regional economies.

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