Ørsted

An advisory commission under the EU Arbitration Convention found that the offshore wind farms Walney Extension and Hornsea 1 are predominantly taxable in the United Kingdom. For Ørsted this results in a minor increase in its tax position in Denmark and in interest payments that are covered by existing provisions. The company expects the additional Danish tax burden to be largely offset over time by UK tax reductions and intends to apply the decision to comparable projects in coordination with the Danish tax authority and HM Revenue & Customs. » Plus sur de.investing.com

Ørsted shares climb about 2.1% to 138.8 DKK after RBC Capital raised its rating from “Sector Perform” to “Outperform” and lifted the price target from 120 to 180 DKK. Citigroup confirmed the positive view with a 165 DKK target. In addition, the commercial commissioning of the 913 MW offshore wind farm Borkum Riffgrund 3 (with Nuveen Infrastructure) boosted investor confidence, although the stock remains below its 52‑week high of 209.7 DKK. » Plus sur de.investing.com

The offshore wind farm Borkum Riffgrund 3, owned by Ørsted and Nuveen Infrastructure, has begun commercial operation. The park delivers 913 megawatts from 83 turbines about 70 kilometers off the North Sea coast, equivalent to the output of large gas or coal-fired power plants. Long-term power contracts secure deliveries to industrial and technology companies, such as data centers and the chemical industry; it is Ørsted's sixth wind farm in Germany. » Plus sur finanzen.net