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Orsted profits in doldrums as wind turbines stop turning  

Credit:  Emily Gosden, Energy Editor | The Times | Friday August 13 2021 | www.thetimes.co.uk ~~

The world’s biggest offshore wind developer has warned that profits will be at the low end of guidance this year because the weather has been far less windy than expected.

Orsted, which operates turbines in UK, Danish, German and Dutch waters, said it had seen “significantly lower than normal wind speeds across our entire offshore wind portfolio” this year. It said it needed wind speeds to return to normal in the remaining five months of the year to deliver operating profits even at the bottom end of its guidance range of 15-16 billion Danish kroner (£1.7-1.8 billion).

The calm weather compounded woes for Orsted after it uncovered problems with subsea cables wearing through earlier this year. The costs of a warranty provision related to dealing

[rest of article available at source]

Source:  Emily Gosden, Energy Editor | The Times | Friday August 13 2021 | www.thetimes.co.uk

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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