Danish offshore wind giant Orsted faced a fresh stock market hammering on Tuesday after the group announced a new billion-dollar impairment charge on the same day its foe Donald Trump ascended to the White House.

Orsted A/S shares slumped after it recorded a $1.7 billion hit on its earnings as the cost of building offshore wind farms in the US keeps rising, complicating the company’s efforts to expand the green technology from Europe.

Orsted A/S recorded a 12.1 billion-krone hit on its earnings as the costs of offshore wind farms, particularly in the United States, keep rising.