Danish energy company Ørsted has announced a 25% reduction in its investment programme up to 2030, despite the company's full-year results meeting expectations. The company attributed the decision to challenges faced in the wider renewable industry,

Ørsted said it is cutting its investment program to 2030 by 25%, as the offshore wind industry struggles with rising costs and supply chain problems.

The renewable energy group cut its investment program to 2030 by 25% despite posting full-year results it said were in line with expectations.

Danish renewable energy firm Orsted said on Wednesday it will cut its investment program by 25%, as the industry struggles with rising costs, supply chain issues, higher interest rates and regulatory changes.