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☆ Just Stop Oil demanded climate action. Their protests have landed them in prison
▼ + stars: | 2024-09-14 | by ( Kara Fox | ) edition.cnn.com time to read: +16 min

Just Stop OilThe laws were purpose-built to target protest groups like Just Stop Oil. ExxonMobil told CNN that they do not currently fund Policy Exchange or American Friends of Policy Exchange, but did not answer questions about past funding. The UK’s lengthy jail terms stand out globally, but the creeping clampdown on disruptive climate protest is also happening elsewhere. Leon Neal/Getty ImagesThe Just Stop Oil case amplifies the near erasure of legal defenses available to protesters who take part in disruptive demonstrations. The same report compared Just Stop Oil to “terror groups” and recommended their actions be banned.

Persons: Cressie Gethin, “, — Louise Lancaster, Daniel Shaw, Lucia Whittaker, Abreu, Roger Hallam, —, ” —, ” Gethin, Michael Forst, “ ’, ’ ” Cressida Gethin, Jodie Beck, Toby Melville, Rishi Sunak, ” Sunak, Gethin, ”, ALEC, Exxon’s, Stephanie Keith, UN’s Forst, Leon Neal, ” Tim Crosland, — Lord Walney, John Woodcock —, Israel . Woodcock, Henry Nicholls, Beck, ” Beck, she’s Organizations: London CNN, Prosecutors, CNN, HMP, Airport, Big Oil, Conservative, International Energy Agency, Labour, London, Police, Amnesty International, Liberty, Stop, ExxonMobil, Exchange, Atlas Network, of Policy, London Metropolitan Police, Met Police, Global, US Civil Rights, Climate Rights International, International Center, Profit, Dakota Access Pipeline, American Legislative Exchange Council, Chevron, Energy, Center for Media, Democracy, Dakota, Pipeline, Oil, Palestine, British, Reuters Locations: North, London, HMP Bronzefield, London’s, —, US, Germany, France, Australia, Mandan , North Dakota, United Kingdom, Israel, England, Northern Ireland

☆ Orsted’s ‘deputy heads must roll’ stance is risky
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool, Britain September 5, 2018. REUTERS/Phil Noble Acquire Licensing RightsSINGAPORE, Nov 14 (Reuters Breakingviews) - Orsted’s (ORSTED.CO) recent implosion has finally prompted a reaction. Denmark’s $17 billion offshore wind producer on Tuesday said Chief Financial Officer Daniel Lerup and Chief Operating Officer Richard Hunter were stepping down. The COO is responsible for the procurement, construction, and operations of the wind farms, and supplier delays accounted for the lion’s share of Orsted’s U.S. writedowns. Yet Mads Nipper, who became Orsted chief executive in early 2021 and handpicked the departing duo, has been spared for now.

Persons: Orsted, Phil Noble, Daniel Lerup, Richard Hunter, Hunter, Lerup, Mads Nipper, Henrik Poulsen, Yawen Chen, Cameron, George Hay, Streisand Neto Organizations: REUTERS, Rights, Reuters, X, Thomson Locations: Walney, Blackpool, Britain, Rights SINGAPORE, United States, U.S

☆ Offshore wind drops out of UK auction on costs, risking climate goals
▼ + stars: | 2023-09-08 | by ( Nora Buli | ) www.reuters.com time to read: +4 min

General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool, Britain, September 5, 2018. The result was bad news for Britain's 2050 net zero emissions target, which calls for 50 gigawatts (GW) of offshore wind capacity by 2030 versus around 14 GW now. In a 2022 auction, offshore wind projects were the main recipient of funding, with 7 gigawatts (GW) awarded, but developers did not even bid in the latest auction, the results of which were published on Friday. The lack of new offshore wind capacity would cost consumers 1 billion pounds a year, it added. Bid prices for renewable energy CfDs are expressed in 2012 money, with inflation meaning actual prices are higher.

Persons: Orsted, Phil Noble, Graham Stuart, Ed Miliband, Sweden's Vattenfall, Nora Buli, Miral Fahmy, Jason Neely Organizations: REUTERS, UK's Department for Energy Security, Turbine, Energy, Britain, Labour Party, Conservatives, Thomson Locations: Walney, Blackpool, Britain, OSLO, Oslo

☆ Selloff wipes off over $8 bln from Orsted's market value
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: 1 min

General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool, Britain, September 5, 2018. REUTERS/Phil Noble/File Photo Acquire Licensing RightsMILAN, Aug 30 (Reuters) - A selloff in Orsted (ORSTED.CO) shares was set to erase over $8 billion from the market value of the world's largest offshore wind farm developer on Wednesday, according to Reuters calculations, based on LSEG data. The shares were last down by 25% in afternoon trading in their largest-ever daily drop after the Danish company said it may see U.S. impairments of $2.3 billion due to supply chain problems. Copenhagen's OMX 20 index (.OMXC20) was down 1.5%. Reporting by Danilo Masoni; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Orsted, Phil Noble, Copenhagen's, Danilo Masoni, Amanda Cooper Organizations: REUTERS, Thomson Locations: Walney, Blackpool, Britain, Orsted, Danish

☆ Denmark's Orsted anticipates $730 mln impact on US portfolio
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool, Britain, September 5, 2018. 1 offshore wind farm developer, said on Wednesday it anticipates impairments of up to 5 billion Danish crowns ($729.78 million) on its U.S. portfolio, as there is an increasing risk in its suppliers' ability to deliver on their commitments. The Ocean Wind 1, Sunrise Wind, and Revolution Wind projects are adversely impacted by a handful of supplier delays, the company said in a statement. In July, Orsted's Ocean Wind project won approval from the U.S. Interior Department, to help the country reach its goal of developing 30 gigawatts of offshore wind by 2030 on every shoreline.

Persons: Orsted, Phil Noble, Gursimran Kaur, Andy Sullivan Organizations: REUTERS, U.S . Interior Department, Ocean, Public Service Enterprise, Thomson Locations: Walney, Blackpool, Britain, U.S, Orsted, New Jersey, Bengaluru

☆ Orsted plunges 20% on risk of $2.3 billion in US impairments
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool, Britain, September 5, 2018. "The situation in U.S. offshore wind is severe," Chief Executive Mads Nipper told reporters on a conference call. The company's Ocean Wind 1, Sunrise Wind, and Revolution Wind projects are adversely impacted by several supplier delays, which may trigger impairments of up to 5 billion crowns, the company said in a statement. On top of this, the increase in long-dated interest rates in the United States affected both offshore as well as some onshore wind projects and will cause impairments of around 5 billion crowns, Orsted said. The U.S. government has set a national goal to develop 30 gigawatt of offshore wind by 2030.

Persons: Orsted, Phil Noble, Mads Nipper, Bernstein, Terje Solsvik, Gursimran Kaur, Nora Buli, Andy Sullivan, Conor Humphries Organizations: REUTERS, Rights, U.S ., Ocean, Public Service Enterprise, Thomson Locations: Walney, Blackpool, Britain, Rights OSLO, United States, U.S, New Jersey, Oslo, Bengaluru

☆ Orsted to invest $68 bln in power capacity by 2030
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble/File PhotoOSLO, June 8 (Reuters) - Renewable energy group Orsted (ORSTED.CO) will invest 475 billion Danish crowns ($68.3 billion) to achieve a 2030 goal to install 50 gigawatts (GW) of power capacity, it said ahead of an investors' update later on Thursday. The Danish company said the plans were fully self-funded and it expected to exceed goals set in 2021 for earnings before interest, tax, depreciation and amortisation (EBITDA) as well as for return on capital employed (ROCE). "We're on track to outperform our previous EBITDA and ROCE targets for 2020-2027, confirming the significant value in our portfolio of renewable projects," Chief Executive Mads Nipper said in a statement. 1 offshore wind farm developer by gigawatt capacity, operates 15.5 GW of renewable energy assets. Capacity of 4.9 GW is under construction and projects representing another 10.6 GW have been awarded, it said.

Persons: Orsted, Phil Noble, Mads Nipper, Bernstein, Terje Solsvik, Essi Lehto, David Goodman, Barbara Lewis Organizations: REUTERS, Thomson Locations: Walney, Blackpool, Britain, OSLO, Danish

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