Today, at COP28, Ørsted announced that the EU-Catalyst Partnership, which consists of the European Commission, Breakthrough Energy Catalyst, and the European Investment Bank, has vowed to support Ørsted’s FlagshipONE project, highlighting the innovative nature of this project and its potential to contribute to the decarbonisation of shipping. FlagshipONE is Europe’s largest e-methanol plant and is … Continue reading Ørsted partners with Breakthrough Energy Catalyst, the European Commission, and the European Investment Bank for FlagshipONE
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Ørsted secures 1.6 GW for offshore wind power project off the coast of Incheon, Korea
Ørsted has been granted a 1.6 GW electricity business license (EBL) by the Ministry of Trade, Industry & Energy of Korea for an offshore wind farm located 70 km off the coast of Incheon City. The license grants Ørsted exclusive development rights for its gigawatt-scale Incheon offshore wind project, which is set to become the … Continue reading Ørsted secures 1.6 GW for offshore wind power project off the coast of Incheon, Korea
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Offshore wind power could meet the Isle of Man’s energy demands
In a promising development for renewable energy, Orsted, a leading company in the sector, has announced plans for a £4bn offshore wind farm that could potentially meet the peak energy demands of the Isle of Man. Seeking public opinions on the proposals, Orsted aims to establish the wind farm in an area off the island’s … Continue reading Offshore wind power could meet the Isle of Man’s energy demands
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Innovation projects at Anholt Offshore Wind Farm
A new research project at Anholt Offshore Wind Farm in Denmark aims to grow a number of less carbon-intensive foods while contributing to a healthier marine environment: To solve the climate crisis, we need to look at how we source our energy, but also at what we eat, as many foods emit large amounts of … Continue reading Innovation projects at Anholt Offshore Wind Farm
Continue readingØrsted ceases development of its US offshore wind projects Ocean Wind 1 and 2, takes final investment decision on Revolution Wind, and recognises DKK 28.4 billion impairments
Following decisions of its Board of Directors, Ørsted will cease development of the Ocean Wind 1 and 2 projects and has taken final investment decision on the Revolution Wind project. The decisions are part of an ongoing review of Ørsted’s US offshore wind portfolio. Impairment updateOn 29 August 2023, Ørsted announced anticipated impairments on its … Continue reading Ørsted ceases development of its US offshore wind projects Ocean Wind 1 and 2, takes final investment decision on Revolution Wind, and recognises DKK 28.4 billion impairments
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Ørsted has selected Cathay Life Insurance as preferred bidder for 50 % ownership share in Greater Changhua 4
Following a competitive divestment process, Ørsted has signed an exclusivity agreement with Cathay Life Insurance today, selecting the Taiwanese leading insurance company and its affiliate as preferred bidder for the acquisition of a 50 % ownership stake in total of Ørsted’s 583 MW Greater Changhua 4 Offshore Wind Farm in Taiwan. Ørsted and Cathay Life … Continue reading Ørsted has selected Cathay Life Insurance as preferred bidder for 50 % ownership share in Greater Changhua 4
Continue readingØrsted extends partnership with Glennmont Partners from Nuveen through divestment of 50 % stake of Gode Wind 3 in Germany
Ørsted has signed an agreement to divest 50% of the Gode Wind 3 Offshore Wind Farm in Germany to funds managed by Glennmont Partners from Nuveen (“Glennmont”). Glennmont is one of Europe’s largest fund managers, focused exclusively on investments in clean energy infrastructure. It is owned by Nuveen, a TIAA company and global asset manager … Continue reading Ørsted extends partnership with Glennmont Partners from Nuveen through divestment of 50 % stake of Gode Wind 3 in Germany
Continue readingØrsted and UC Berkeley’s Haas School of Business team up to advance people-positive renewable energy build-out
Ørsted, one of the world’s leading renewable energy companies, and Haas School of Business at the University of California, Berkeley, have entered a multi-year partnership to advance the positive social impact of renewable energy projects. Ørsted and UC Berkeley’s Haas School of Business will bring together community organisations, policymakers, and industry experts to lay the … Continue reading Ørsted and UC Berkeley’s Haas School of Business team up to advance people-positive renewable energy build-out
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Ørsted completes 200 MW wind farm in Kansas
Ørsted has started operations at Sunflower Wind, an onshore wind farm located in Marion County, Kansas, the US. Sunflower Wind will be Ørsted’s 13th operational wind farm in the United States, with a capacity to power more than 70,000 homes. In addition to providing affordable, renewable energy, Sunflower Wind will provide economic benefits to its … Continue reading Ørsted completes 200 MW wind farm in Kansas
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Ørsted secures solar and wind energy contracts under Irish RESS 3 auction
Ørsted has secured two contracts in the Irish Government’s third onshore Renewable Electricity Support Scheme (RESS 3) auction. The approved Ørsted projects were the 81 MW Garreenleen Solar Farm in Carlow, and the 43.2 MW Farranrory Onshore Wind Farm in Tipperary. Commenting on the provisional results of the RESS 3 auction, Kieran?White, Senior Vice President … Continue reading Ørsted secures solar and wind energy contracts under Irish RESS 3 auction
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Ørsted and Terra Solar team up to develop 400 MW portfolio of solar energy in Ireland
Ørsted has announced the development of a portfolio of Irish solar projects in a partnership with renewable energy developer Terra Solar, headquartered at NovaUCD in Dublin. With a capacity of up to 400 MW, the projects have the potential to power over 90,000 Irish homes. This latest partnership brings further momentum to Ørsted’s solar pipeline … Continue reading Ørsted and Terra Solar team up to develop 400 MW portfolio of solar energy in Ireland
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Ørsted enters its first UK solar project
Ørsted has entered its first solar project in the UK. One Earth Solar Farm is a proposed 740 MW solar farm with associated battery storage, that will primarily be located in Nottinghamshire near the border of Lincolnshire and is being co-developed with PS Renewables. Once operational, the 740 MW solar farm will generate enough clean, … Continue reading Ørsted enters its first UK solar project
Continue readingØrsted announces anticipated impairments on its US portfolio
As part of the continued maturation and a pre-final investment decision (FID) review of its near-term US offshore development projects, Ørsted has assessed the aggregate adverse impacts relating to the supply chain, lack of favorable progress in Investment Tax Credit (ITC) guidance, and increased interest rates, which affect its US portfolio. The Ocean Wind 1, … Continue reading Ørsted announces anticipated impairments on its US portfolio
Continue readingØrsted completes divestment of 25 % of London Array Offshore Wind Farm
Further to the press release issued on 24 July 2023, Ørsted has completed the divestment of 25 % of the London Array Offshore Wind Farm to funds managed by Schroders Greencoat. Ørsted has signed an agreement with funds managed by Schroders Greencoat, a global specialist asset manager focusing on renewable energy infrastructure assets, to divest … Continue reading Ørsted completes divestment of 25 % of London Array Offshore Wind Farm
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Ørsted’s Board of Directors approved the interim report for the first half year of 2023
Operating profit (EBITDA) for the first half year was in line with our expectations and amounted to DKK 10.2 billion. Earnings from offshore sites amounted to DKK 9.0 billion, which was DKK 3.3 billion higher than in the same period last year. Net profit amounted to DKK 2.7 billion, and return on capital employed (ROCE) came … Continue reading Ørsted’s Board of Directors approved the interim report for the first half year of 2023
Continue readingØrsted divests its remaining 25 % share of London Array to funds managed by Schroders Greencoat
Ørsted has signed an agreement with funds managed by Schroders Greencoat, a global specialist asset manager focusing on renewable energy infrastructure assets, to divest its remaining 25 % minority interest in the London Array Offshore Wind Farm in the UK. The total value of the transaction is GBP 717 million (DKK 6.17 billion). London Array … Continue reading Ørsted divests its remaining 25 % share of London Array to funds managed by Schroders Greencoat
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Agreement on the sale of Hornsea 2 transmission assets
Breesea Limited, Soundmark Wind Limited, and Sonningmay Wind Limited, a joint venture owned by Ørsted (50 %) and AXA IM Alts and Crédit Agricole Assurances (CAA) (jointly 50 %), today announced that they have signed an agreement on the sale of their transmission assets to Diamond Transmission Partners Hornsea Two Limited (‘DTP’).DTP is a partnership … Continue reading Agreement on the sale of Hornsea 2 transmission assets
Continue readingACP Statement on Ocean Wind 1 Project Approval
The American Clean Power Association (ACP) released the following statement today from Josh Kaplowitz, Vice President for Offshore Wind, after U.S. Secretary of the Interior Deb Haaland announced final approval from the Bureau of Offshore Energy Management (BOEM) of Ørsted’s proposed Ocean Wind 1 project offshore of New Jersey. “Today’s announcement is a major step … Continue reading ACP Statement on Ocean Wind 1 Project Approval
Continue readingUS approves construction for Ørsted offshore wind power project off New Jersey
The Biden administration on Wednesday approved construction of an offshore windfarm that will generate 1,100 megawatts of power from up to 98 turbines off the coast of Atlantic City, New Jersey, becoming the third such project in the United States. Approval of Orsted’s (ORSTED.CO) Ocean Wind by the Interior Department is the administration’s latest move … Continue reading US approves construction for Ørsted offshore wind power project off New Jersey
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Ørsted and ESVAGT sign second contract for methanol-powered vessel
In 2024, the world’s first green fuels vessel for offshore wind operations will launch off the UK East Coast, as the result of a ground-breaking agreement between Ørsted and ESVAGT. Now the two companies are expanding their partnership on green offshore operations by signing an agreement for a second green service operation vessel. Ørsted and … Continue reading Ørsted and ESVAGT sign second contract for methanol-powered vessel
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