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It reduces investment and drops its goals to develop new renewable energy as part of a second radical attempt to restore its struggling share and increase confidence in its strategy.
The largest beach in the world winds The developer said that the planned investment will reduce to 2030 by 25 percent, less than a week after the MADS NIPPER predecessor with the new CEO Rasmus Errboe.
The country -backed company announced on Wednesday that it plans to give priority to building current projects, as it tries to recover from a turbulent battle in the United States.
It also faces a difficult marine wind environment with the election of Donald Trump, while trying to maintain its investment classification and avoid collecting new donations to support its public budget.
This step sheds light on the challenges facing global attempts to stay away from fossil fuels, as some other developers expanded the scope of the aspirations of renewable energy sources due to the distinctive returns or practical challenges.
This announcement came after hours of time, the state -owned energy group in Norway and Raed Ørsted The shareholder said that he was also cutting the goals of renewable energy sources, and instead planned to pump more oil to increase shareholders ’returns and cash flow.
NIPPER has presided over a decrease of 80 percent at the price of Ørsted shares over the past four years, with high interest rates and noise on green stocks.
In February last year, he tried to arrest the slide by announcing up to 800 job discounts, reducing the goals of renewable energy sources, and suspending the company's profits and withdrawing from three markets for marine winds.
However, the group's shares declined again after in January more factories related to their wind work in the United States, which were strengthened at high costs and breeds in the supply chain.
In a statement before its annual results on Thursday, Errboe said that the company's “first priority” for the next three years is the completion.
He added that the company “still believes in the long -term basics of external winds and renewable energy on a broader scale” and the predictions highlighted that global demand for electricity will double by 2050.
According to its new plans, it cancels its goal of developing 35-38GW from renewable energy sources by 2030, and investment plans for the period for 2024-2030 reduced 25 percent to DKR210BN-DKR230BN ($ 29.3 billion-32.10 billion dollars).
The completion of marine wind projects and other technology under construction will take its total installed capacity from about 18GW today to more than 27 GB in 2027.
On a possible sign of more discounts in jobs, the company said it would also be “a correct limitation of our cost base and our organization continuously.”
The company insisted that the action plan will not require raising new shares. It still aims to restore profits in 2026.
Errboe added: “The market is still a challenge, but the fulfillment of this program will enhance our site as an undisputed global pioneer in the marine winds.”
“It is a positive step, given the company's financing challenges and a lack of credit granted to growth by the market,” said analysts at RBC.
