The Danish utility has failed to meet expectations as it has been severely affected by negative wind speeds during the first quarter. In addition there was an array cable issue on several offshore farms, which together decreased offshore EBITDA by 44% yoy. The divestment of the distribution, residential customer and city light businesses last year also weighed. However, FY21 guidance is reiterated as the group should benefit from significant PPAs, CfDs awarded and farm-downs. In short, nothing t ....
29 Apr 2021
Orsted faced headwinds, profits dipped
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Orsted faced headwinds, profits dipped
Orsted (ORSTED:CSE), 0 | Orsted (0RHE:LON), 0
- Published:
29 Apr 2021 -
Author:
Nicolas Bouthors -
Pages:
3
The Danish utility has failed to meet expectations as it has been severely affected by negative wind speeds during the first quarter. In addition there was an array cable issue on several offshore farms, which together decreased offshore EBITDA by 44% yoy. The divestment of the distribution, residential customer and city light businesses last year also weighed. However, FY21 guidance is reiterated as the group should benefit from significant PPAs, CfDs awarded and farm-downs. In short, nothing t ....