All-Time Low for Ørsted as It Points Finger at White House

Shares in Danish wind power company Ørsted have crashed to an all-time low as the firm publicly pointed the finger at the White House for its financial woes. The company announced it needs to raise $9 billion from shareholders after its business model was shattered by Trump’s anti-wind policies.
The company stated that its plan to fund a new US east coast wind farm by selling a stake in it was no longer possible. This is a direct consequence of the Trump administration’s review of wind permitting and leasing, which has drastically reduced the value of these American assets.
This targeted policy has hit the industry at its weakest point, as it continues to grapple with inflated costs from supply chain issues and higher interest rates. Trump’s well-known dislike for wind power, which he recently reiterated with refuted claims about bird deaths, has now translated into a significant financial crisis for a major global player.
Despite the market turmoil, the Danish government, a 50% owner, is backing the fundraising. The goal is to provide “financial robustness,” according to CEO Rasmus Errboe, allowing Ørsted to move ahead with its global plans, including two major projects in the US.