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Market
Orsted's US operations status post-settlement by 2024
5
Resolution / Starting Odds
Expansion of US operations • 25%
Reduction of US operations • 25%
Stable/maintain current operations • 25%
Complete withdrawal from US market • 25%
Orsted's financial reports and public statements
Story
New Jersey to Receive $125 Million from Orsted in Legal Settlement Over Canceled Wind Farms
May 28, 2024, 08:57 PM
New Jersey officials announced that the state will receive $125 million from a legal settlement with Denmark's Orsted, a global renewable energy giant, over the company's cancellation last year of two offshore wind farms. The settlement amount is less than half of the $300 million Orsted originally agreed to pay if it failed to complete the projects. The dispute arose after Orsted decided to scrap the wind farms off New Jersey's southern coast last October. The state's Board of Public Utilities confirmed the settlement, which resolves claims against each other.
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Relocate operations within US • 25%
Exit US market • 25%
Negotiate with US government • 25%
Cease operations • 25%
Increase in U.S. operations • 25%
No change in U.S. operations • 25%
Decrease in U.S. operations • 25%
Cease U.S. operations • 25%
Fully Demerged • 33%
Partially Demerged • 33%
Not Demerged • 34%
Successful recovery • 33%
Partial recovery • 33%
No recovery • 33%
Significant improvement • 25%
Moderate improvement • 25%
No significant change • 25%
Worsened financial performance • 25%
Expansion into new markets • 25%
Acquisition of smaller companies • 25%
Launch of new products • 25%
No significant changes • 25%
Minor impact • 33%
Moderate impact • 33%
Severe impact • 34%
Significant financial loss • 25%
Moderate financial impact • 25%
Minimal financial impact • 25%
No financial impact • 25%
No Action • 33%
Fines/Penalties • 33%
Operational Changes • 34%
No impact • 33%
Reduced partnerships • 33%
Termination of major partnerships • 33%
Improved terms for Wells Fargo • 33%
Unchanged terms • 33%
Terminated partnership • 33%
Significant reduction in operating expenses • 33%
Moderate reduction in operating expenses • 33%
Minimal or no reduction in operating expenses • 34%