Balmoral's System Prevents Offshore Wind Cable Damage
that its quarterly earnings were hit by significantly lower wind speeds compared to last year, and a warranty provision of 800 million crowns made after it discovered cable problems at its offshore wind farms in Europe.Investigations into the extent of the issue are ongoing, Chief Financial Officer Marianne Wiinholt told a media briefing in April, but added the problem was limited to ten offshore wind farms at most, Reuters reported. The affected wind farms are in the United Kingdom and Continental Europe and equipped with a cable protection system Orsted no longer uses
Offshore Wind: Orsted Earnings, Shares Dented by Lower Wind Speeds, Cable Problems
said quarterly earnings suffered from significantly lower wind speeds compared to last year, and a warranty provision of 800 million crowns made after it discovered cable problems at its offshore wind farms in Europe.Investigations into the extent of the issue are ongoing, Chief Financial Officer Marianne Wiinholt told a media briefing, but added the problem was limited to ten offshore wind farms at most. They are in the United Kingdom and Continental Europe and equipped with a cable protection system Orsted no longer uses.Orsted estimated fixing the problems could cost 3 billion crowns in total between
DONG Get Billions in Funding, Appoint New CFO
with offshore interests in Northern Europe, announce that Goldman Sachs will subscribe for new shares for DKK 8 billion, ATP for DKK 2.2 billion and PFA for DKK 0.8 billion. Coincidentally, Carsten Krogsgaard Thomsen will step down as CFO after 11 years with DONG Energy. His successor will be Marianne Wiinholt, who comes from the position of Senior Vice President of DONG Energy's Customers & Markets division. Henrik Poulsen, DONG Energy’s CEO, says: “I would like to thank Carsten for the huge contribution he has made to the company over many years. He has been a valuable and
February 2024
