Stock Take

Analysis: Ørsted’s woes show the stock market is no place for wind energy firms to grow

Ørsted has announced a major cost-cutting plan and suspended shareholder dividends as it contends with the hefty losses its suffered over the last year

Ørsted reined in its expansion plans by slashing its target to build 50 gigawatts of new green power projects by 2030

Mads Nipper was straight up in his assessment of what has gone wrong for Ørsted, the Danish renewable energy giant which has fallen on hard times over the last year after racking up hefty losses and multibillion-dollar impairment charges.

“Had we known what would happen, we shouldn’t have continued to mature and commit capital,” the Ørsted chief executive said last week.