Wind farm developer Orsted shares plunge after €2.1bn hit in US

Orsted has about 20 wind and solar farms across Ireland and had announced earlier this year a partnership with ESB to develop offshore projects   

Orsted had welcomed Taoiseach Leo Varadkar and Enterprise Minister Simon Coveney to its Irish headquarters earlier this year to mark its investments in wind energy in Ireland. File picture: Darragh Kane

Shares in Denmark's Orsted plunged 23% after the renewable energy company warned of impairments of as much as 16bn Danish kroner (€2.1bn) to its US portfolio because of supply chain issues and soaring interest rates. 

Orsted is best known in Ireland as the owner of almost 20 wind and solar farms across all of Ireland. Separately, it had announced earlier this year a partnership with ESB to develop offshore projects.