Orsted Takes $730 Million Impairment on U.S. Offshore Wind Projects

• Orsted announced impairments of up to $730 million on its U.S. offshore wind portfolio.
• The impairments are due to supplier delays, lack of tax credits, and rising interest rates.
• The impairments affect Orsted's Ocean Wind 1, Sunrise Wind, and Revolution Wind projects.
• Orsted's Ocean Wind project recently received federal approval to help meet U.S. offshore wind goals.
• Orsted says the impairments will not impact its 2022 EBITDA guidance.

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