Ørsted shares fall 25% after it reveals troubles in US business
Updated: 2023-08-30 17:48:12
Almost £7bn wiped off value of world’s largest offshore wind company over possible £1.8bn write-downShares in the world’s largest offshore wind company have tumbled by nearly a quarter after it said it may have to write down the value of its US portfolio by nearly £2bn.Ørsted said it had been hit by a flurry of setbacks in its American business, triggering a rapid sell-off in its shares, listed in Copenhagen. Continue reading...
Both China and the US, the world's top carbon emitters, are racing ahead with solar panels and wind turbines. It is even looking like we may soon see the beginning of the end for fossil fuels
Figures reveal capacity has fallen to an average rise of 4.45% in past three years, compared with 9.67% globallyThe UK’s investment in renewable energy has lagged significantly behind the rest of the world in recent years, according to an analysis of global data.The latest government figures reveal the UK’s renewable capacity has fallen to an average increase of 4.45% in the past three years, compared with an average 9.67% annual increase globally. Continue reading...
Industry figures warn climate crisis goals cannot be met unless government pumps more money into renewablesBritain faces being left with no hope of meeting its crucial climate crisis goals and losing its status as a world leader in offshore wind energy without an urgent overhaul of government support, ministers are being warned.The sudden halting of one of the country’s biggest offshore windfarm projects last month could signal a “tipping point” in the construction of new sites unless ministers intervene, a number of senior energy industry figures told the Observer. Continue reading...