Orsted has posted a fourth quarter 2025 impairment of almost €80m related to the recent stop work orders imposed on the Danish developer’s two US projects.
CEO Rasmus Errboe told reporters that that the shutdown cost the company some €1.1m per day on the 924MW Sunrise Wind, and around half that per day on its share of the 704MW Revolution Wind.
Orsted owns 50% of Revolution Wind, and the other half is owned by Skyborn Renewables.
Both projects have resumed work on the water since winning court injunctions blocking the enforcement of US President Donald Trump’s shutdown orders.
Errboe told reporters he is “satisfied” with the court ruling in the two cases.
This Q4 impairments come on top of an earlier €200m impairments posted in the company’s third quarter following an August 2025 shutdown order that was ultimately lifted by a US federal district court judge.
Altogether Orsted posted net impairment losses for 2025 of €480m.
Sunrise is 45% complete, having installed 44 out of 84 turbine foundations, and is headed toward a commercial operations date in the second half of 2027.
Revolution Wind now sits 87% complete, with 58 of the project’s 65 Siemens Gamesa turbines installed, and is still on track for first power in the coming weeks and full commercial operations in the second half of this year, Errboe said.