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      Ørsted slashes power generation targets and cuts investments

      Title: "Orsted's Strategic Review: Trimming Targets and Pausing Dividends"

      Ørsted, the world's largest offshore wind farm developer, has announced a major review. Investment and capacity targets are set to be reduced, and dividend payouts suspended following setbacks across several US projects. The Danish company lowered its power generation capacity goal to 35-38 GW by 2030, down from the previous 50 GW. It plans to cut capital expenditure by $5.05bn over three years, pause dividends until 2025, and sell assets worth $17.65bn by 2030. Additionally, Ørsted intends to slash up to 800 jobs and exit markets in Norway, Spain, and Portugal, aiming to rebuild investor trust. (Offshore Engineer)