{"id":1246,"date":"2025-02-06T10:15:17","date_gmt":"2025-02-06T15:15:17","guid":{"rendered":"https:\/\/sharewatch.com\/wp\/2025\/02\/06\/green-energy-ambitions-of-european-companies-take-a-beating\/"},"modified":"2025-02-06T10:15:17","modified_gmt":"2025-02-06T15:15:17","slug":"green-energy-ambitions-of-european-companies-take-a-beating","status":"publish","type":"post","link":"https:\/\/sharewatch.com\/wp\/2025\/02\/06\/green-energy-ambitions-of-european-companies-take-a-beating\/","title":{"rendered":"Green Energy Ambitions of European Companies Take a Beating"},"content":{"rendered":"
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Rasmus Errboe, the new chief executive of the Danish offshore wind developer Orsted, sounded as if he had inherited a mess as he explained a 25 percent paring of the company\u2019s investment plans on Thursday.<\/p>\n

Over the past two years, Orsted has backed away from some huge wind projects it planned to build off the East Coast of the United States, notably off New Jersey, because of delays, inflation and higher interest rates.<\/p>\n

Now, President Trump\u2019s aversion to offshore wind farms threatens to complicate the two big projects off New York and Rhode Island that Orsted says it is still committed to completing.<\/p>\n

\u201cWe are working relentlessly to minimize the risks given the market conditions and the economic climate,\u201d Mr. Errboe said. \u201cI\u2019m not able to hand out any guarantees.\u201d<\/p>\n<\/div>\n<\/aside>\n<\/div>\n

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The downshift at Orsted, one of Europe\u2019s flagship renewable energy developers, came just a day after Equinor, the Norwegian energy giant that has been a large investor in renewable energy, said it would cut planned spending on low-emission projects to $5 billion, from $10 billion, over the next three years.<\/p>\n

\u201cThe energy transition is moving slower than expected,\u201d Anders Opedal, chief executive of Equinor, said Wednesday at a meeting in London to discuss the company\u2019s strategy.<\/p>\n

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