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Ørsted shares fall 25% after it reveals troubles in US business

Ørsted shares fall 25% after it reveals troubles in US business

Almost £7bn wiped off value of world’s largest offshore wind company over possible £1.8bn write-down

Shares 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.

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