Orsted on Wednesday sent new shockwaves through the global offshore wind industry when it cancelled its giant New Jersey projects and unveiled a big quarterly loss fueled by a $4 billion impairment against the US developments.

The news had followed a steady drumbeat of losses and project cancellations, including BP’s reported $540 million impairment charge on its 3.2 gigawatts of New York capacity with Equinor that led its green energy head Anja-Isabel Dotzenrath, to declare the US industry “fundamentally broken”.