Danish wind power giant Ørsted to cut a quarter of jobs by 2027 - US Court Clears Way for Ørsted's Rhode Island Wind Farm
In a significant victory, a US court has allowed Danish energy giant Ørsted to proceed with a nearly completed wind farm project off Rhode Island's coast. The ruling overturns a halt imposed by the Trump administration, paving the way for the project's completion.
Ørsted, seeking to make offshore wind energy a key part of Europe's green transition, has faced challenges in the US stock market. Trump's return to power in January led to decrees that largely halted the US wind energy sector. In response, Ørsted has secured additional funds, raising $9.4 billion (around €8.1 billion) through a capital increase.
To maintain its position as the market leader, Ørsted plans to focus more on its development in European and Asian markets. The company aims to cut a quarter of its jobs by 2027, with a focus on expanding its offshore wind energy market in the United Kingdom, Germany, and the United States. Ørsted also plans to reduce costs for the development, construction, and operation of offshore wind farms to enhance competitiveness.
Ørsted, following the US court's ruling, can now continue its wind farm project off Rhode Island. The company's strategic shift towards European and Asian markets, along with cost reduction plans, aims to strengthen its position as the global leader in offshore wind energy.
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