Orsted Shares Drop 17% as U.S. Halts Rhode Island Wind Project
Shares of Orsted plummeted 17% to a record low after the U.S. government ordered a halt to the nearly completed Revolution Wind Project off Rhode Island, raising concerns about the company's ongoing capital raising plans and potential financial impacts. The company plans to comply with the order and is exploring options to resolve the issue, but the situation has increased uncertainty about its future projects and funding strategies.