Offshore Wind Group Orsted Turns to Net Loss in Q3

Offshore wind group Orsted turns to net loss in Q3

Orsted, the world's biggest offshore wind farm group, swung to a quarterly net loss of 1.70 billion Danish crowns, it said today, hit by US President Donald Trump's trade policies and resistance to renewable energy.

Orsted swings to quarterly net loss as Trump's offshore wind battle takes its toll

The results come shortly after the company announced it had reached a deal to sell a 50% stake in its Hornsea 3 offshore wind farm in the U.K.

Nine more wildcards for Arqana's Vente d'Elevage

A total of nine wildcards, including group winner Half Sovereign (Ten Sovereigns), have been added to Arqana's Vente d'Elevage catalogue. They will be offered on the first evening of the sale on Saturday, December 6. Offered as lot 195 from Consign, Ltd., the G3 Prix Miesque winner is from the same family as dual Group 1 winner Jack Hobbs, as well as group scorers Pollenator (Motivator), Stellaria (Kizuna), and Golden Pond (Don't Forget Me). Arc…

Orsted Sells 50% Stake in Britain’s Hornsea 3 to Apollo in $6bn Lifeline Deal Amid Mounting ESG and Cost Pressures

Denmark’s Orsted has agreed to sell a 50% stake in its flagship Hornsea 3 offshore wind project in the United Kingdom to Apollo Global Management for around 39 billion Danish crowns ($6.09 billion), in what analysts describe as a crucial move to prevent a potential credit rating downgrade. The deal, announced Monday, marks a turning […] The post Orsted Sells 50% Stake in Britain’s Hornsea 3 to Apollo in $6bn Lifeline Deal Amid Mounting ESG and C…

Apollo to Invest $6.5bn in Ørsted’s Hornsea 3 Wind Farm

Funds managed by Apollo Global Management have agreed to invest approximately $6.5bn in Ørsted A/S’s offshore wind project Hornsea 3, according to a report by Bloomberg. The investment gives Apollo’s funds a 50% stake in the joint venture holding the asset and commits the firm to fund 50% of the remaining construction costs. Hornsea 3, located in the North Sea, is projected to reach a capacity of 2.9 GW. That is enough to power more than 3 milli…

Orsted's part-sale of giant North Sea wind project puts development back on track

Conclusion of $9.4bn rights issue and $6,5bn Hornsea 3 farm-down have put Danish developer in more 'robust' financial situation, CEO says