Weighed down by write-downs, Ørsted's net profit was nearly halved in the first quarter

From January to April, the group's net profit amounted to 2,62 billion crowns (350 million euros) while revenue, driven by offshore wind projects, climbed 33% to 27,6 billion crowns.

A former oil and gas giant, Ørsted is one of the first, and few, to have radically transformed itself to become a specialist in renewable energies.

During the quarter, electricity production from offshore and onshore wind turbines increased by 16% year-on-year and totaled 11,3 TWh.

A historic champion of offshore wind power - it opened the world's first offshore wind farm in 1991 - the group has recently suffered from rising costs and financing problems, difficulties affecting the entire sector, but also from the fierce opposition of US President Donald Trump.

President Donald Trump, a strong supporter of fossil fuels, displays personal hostility towards the wind power sector, which he considers ugly and describes as an "economic and environmental disaster," and has repeatedly blocked two Ørsted projects in the United States.

One of them, Revolution Wind, finally began supplying electricity in March to homes in New England in the northeastern United States.