Wind farm developer Orsted to cut its investments by 25

The world's leading wind energy developer, Denmark's Orsted Group, has announced a 25% reduction in its investments between now and 2030 in order to restore its financial position and convince the markets of the soundness of its strategy. The announcement comes just hours after Norway's Equinor, a shareholder in Orsted, announced a reduction in its renewable energy investments. Orsted, whose share price has fallen by 80% on the stock market, is experiencing difficulties in the construction of large offshore wind farms totalling 8,400 MW of new capacity. The election of Donald Trump has also led the group to review its development strategy in the United States in depth.