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Wind farm giant Ørsted cuts jobs after discovering wind is less effective than previously thought

In October, Orsted’s share price fell by more than 7pc when it warned that its wind farms were producing less power than expected. The company blamed this dip in production on the fact that wind turbines block each others wind, thereby decreasing its efficiency. Orsted suggested that phenomenon had been traditionally underestimated across the wind energy industry, which has been under pressure in recent times as bountiful government subsidies are swapped for competitive auction systems.

In October, Orsted’s share price fell by more than 7pc when it warned that its wind farms were producing less power than expected

The largest offshore wind farm developer in the world has laid off around 15 people from its business, and is currently weighing further cuts, as the company warns that wind might not be quite as effective as previously thought.

Orsted made its UK managing director redundant at the beginning of December, in addition to two other senior executives, including Thyge Boserup, senior vice president of global development.

The Telegraph can reveal that Orsted is shifting its focus towards its corporate customers, resulting in the redundancies of around 15 employees in its Danish and German offices, as the wind farm operator mulls further cuts to its UK and Sweden offices.

“We are refocusing our business to continue our global expansion and as a result, we have had to make some changes to the management structure of some business units,” the company said. It added that some roles were “no longer consistent with this new focus.”

“Unfortunately, the changes mean that we have to say goodbye to some of our skilled employees.”

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In October, Orsted’s share price fell by more than 7pc when it warned that its wind farms were producing less power than expected

The largest offshore wind farm developer in the world has laid off around 15 people from its business, and is currently weighing further cuts, as the company warns that wind might not be quite as effective as previously thought.

Orsted made its UK managing director redundant at the beginning of December, in addition to two other senior executives, including Thyge Boserup, senior vice president of global development.

The Telegraph can reveal that Orsted is shifting its focus towards its corporate customers, resulting in the redundancies of around 15 employees in its Danish and German offices, as the wind farm operator mulls further cuts to its UK and Sweden offices.

“We are refocusing our business to continue our global expansion and as a result, we have had to make some changes to the management structure of some business units,” the company said. It added that some roles were “no longer consistent with this new focus.”

“Unfortunately, the changes mean that we have to say goodbye to some of our skilled employees.”

In October, Orsted’s share price fell by more than 7pc when it warned that its wind farms were producing less power than expected. The company blamed this dip in production on the fact that wind turbines block each others wind, thereby decreasing its efficiency.

Orsted suggested that phenomenon had been traditionally underestimated across the wind energy industry, which has been under pressure in recent times as bountiful government subsidies are swapped for competitive auction systems.

In 2017, Britain’s third richest man, Sir Jim Ratcliffe, bought all of the oil and gas assets of Orsted, formerly known as Dong, or Danish Oil and Natural Gas. It was the first time a major energy company had completely ditched its fossil fuel business in favour of renewables.

Orsted has built the world’s biggest wind farm in the UK’s North Sea, a 174-strong array of turbines located 100km off the coast of Hull. It saw its profits for the first nine months of the year increase by 19pc from the same period a year ago.


Source: https://www.telegraph.co.uk...

JAN 6 2020
http://www.windaction.org/posts/50746-wind-farm-giant-orsted-cuts-jobs-after-discovering-wind-is-less-effective-than-previously-thought
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