Ørsted has applied for permits to build a further four large-scale offshore wind farms in Sweden, expanding its portfolio to a total potential capacity of 18 GW. If fully developed, the new wind farms could cover more than half of the Scandinavian country’s total electricity consumption. The world’s first, largest and most experienced developer of … Continue reading Ørsted wants to tap Sweden’s huge offshore wind power potential with four new farms
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Ørsted expects EBITDA excluding new partnership agreements of DKK 21.1 billion for 2022
Ørsted presents operating profit (EBITDA) for 2022 based on preliminary and unaudited reporting. It has been a year with unusual market conditions, not least very volatile energy prices and a substantial increase in inflation. Despite this, we achieved 2022 results (EBITDA) within our latest guidance from 3 November 2022 and above our initial expectations for … Continue reading Ørsted expects EBITDA excluding new partnership agreements of DKK 21.1 billion for 2022
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Ørsted to acquire PSEG 25 % in the 1,100 MW offshore wind energy project Ocean Wind 1
Ørsted has signed an agreement to acquire Public Service Enterprise Group’s (PSEG) 25 % equity stake in the 1,100 MW offshore wind energy project Ocean Wind 1 located approx. 24 km off the coast of southern New Jersey in the US. The acquisition provides Ørsted with 100 % ownership of Ocean Wind 1. As Ocean … Continue reading Ørsted to acquire PSEG 25 % in the 1,100 MW offshore wind energy project Ocean Wind 1
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Ørsted to build large-scale solar PV project in Texas
Continuing its growth in onshore renewables, Ørsted has decided to build the 471 MW AC Mockingbird Solar Center in Texas. Covering an area of 4,900 acres (approx. 20 km2), Mockingbird will be able to generate enough renewable energy to power more than 80,000 homes annually, making it the largest solar PV project in Ørsted’s portfolio … Continue reading Ørsted to build large-scale solar PV project in Texas
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Green Fuels for Denmark receives Danish IPCEI funding
The Danish Business Authority has awarded the Danish Power-to-X flagship project ‘Green Fuels for Denmark’ DKK 600 million as part of Denmark’s participation in the European IPCEI programme. The funding will go towards realising Green Fuels for Denmark’s first phases of 10 MW, 100 MW and 300 MW, respectively. The Green Fuels for Denmark consortium … Continue reading Green Fuels for Denmark receives Danish IPCEI funding
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Doosan Enerbility Enters into Partnership with Ørsted for Offshore Wind Power
Vietnamese subsidiary Doosan Vina signs supplier agreement for offshore wind turbine substructure with Ørsted. Vietnam’s offshore wind power market forecast to grow to 7GW by 2030. Doosan Enerbiity announced on Nov. 3 that its Vietnamese subsidiary Doosan Vina had signed a memorandum of understanding with Denmark’s state-owned energy company Ørsted on cooperation for the supply … Continue reading Doosan Enerbility Enters into Partnership with Ørsted for Offshore Wind Power
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DNV supports Ørsted as lender’s technical advisor to the 1.32 GW Hornsea 2 offshore wind farm
Hornsea 2 is the largest offshore wind farm and will provide electricity to more than 1.3 million UK homes. DNV, the independent energy expert and assurance provider, has successfully completed Lenders’ Technical Due Diligence on Ørsted’s Hornsea 2 project, the world’s largest offshore wind farm. Working in close collaboration with Ørsted and the lenders, legal, … Continue reading DNV supports Ørsted as lender’s technical advisor to the 1.32 GW Hornsea 2 offshore wind farm
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Ørsted’s Board of Directors approved the interim report for the first nine months of 2022.
EBITDA excluding new partnerships increased by 3.8 billion and amounted to DKK 14.4 billion. Net profit amounted to DKK 15.3 billion, and return on capital employed (ROCE) came in at 24 %. We have increased our full-year EBITDA guidance with DKK 1 billion to DKK 21-23 billion excluding earnings from new partnerships during the year, … Continue reading Ørsted’s Board of Directors approved the interim report for the first nine months of 2022.
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Ørsted enters into agreement with Equinor on Norwegian gas for Denmark
Ørsted and Equinor have just signed an agreement under which Equinor will supply Norwegian gas to Denmark via Baltic Pipe. The agreement covers the period from 1 January 2023 to 1 April 2024, and the total volumes of gas supplied during the period will be approx. 8 TWh, corresponding to roughly a quarter of the expected … Continue reading Ørsted enters into agreement with Equinor on Norwegian gas for Denmark
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Ørsted and Copenhagen Infrastructure partners join forces to develop approx. 5.2 gigawatts of offshore wind in Denmark
Ørsted and Copenhagen Infrastructure Partners (CIP) have entered into a partnership to develop approx. 5.2 gigawatts of offshore wind in Denmark across four projects. The partnership can accelerate the green transformation greatly, create value in the offshore wind industry, strengthen value- and job creation, and create a Danish business and export stronghold within Power-to-X. Ørsted … Continue reading Ørsted and Copenhagen Infrastructure partners join forces to develop approx. 5.2 gigawatts of offshore wind in Denmark
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Ørsted partners with ECP in the company’s first-ever farm-down of onshore assets
Ørsted closed a transaction with Energy Capital Partners (ECP), a leading energy transition-focused investor, to divest a 50 % ownership stake in a portfolio consisting of three onshore wind farms and one solar farm in the US. The value of the transaction is approx. USD 410 million. The portfolio, comprised of the onshore wind farms … Continue reading Ørsted partners with ECP in the company’s first-ever farm-down of onshore assets
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Ørsted to implement new organisational structure and changes to executive management
To continue to drive growth under increasingly different local market requirements, while leveraging the synergies of a global organisation, Ørsted has decided to implement a new organisational structure and changes to executive management. The current corporate structure with a Commercial area and an Onshore business unit will be replaced by three regions: Europe, Americas, and … Continue reading Ørsted to implement new organisational structure and changes to executive management
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Danish authorities order Ørsted’s oil- and coal-fired power stations into operation
In order to ensure the security of the electricity supply in Denmark, the Danish authorities have decided to order Ørsted to continue and resume operations of three of its power station units which use oil and coal as fuel. This applies to unit 3 at Esbjerg Power Station and unit 4 at Studstrup Power Station, … Continue reading Danish authorities order Ørsted’s oil- and coal-fired power stations into operation
Continue readingØrsted comments on the high energy prices
Russia’s invasion of Ukraine and the curtailment in Russian gas supplies to Western Europe are the main reasons for the high energy prices in 2022. However, the surge in energy prices started already in 2021 due to the rapid growth in energy demand following the COVID-19 pandemic. In 2022, this was combined with poor weather … Continue reading Ørsted comments on the high energy prices
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Ørsted completes acquisition of German and French onshore wind platform Ostwind
Ørsted has today completed the acquisition of a 100 % equity interest in OSTWIND Erneuerbare Energien GmbH, OSTWINDpark Rotmainquelle GmbH & Co. KG, OSTWIND International S.A.S., and OSTWIND Engineering S.A.S. from OSTWIND AG, a holding company located in Regensburg, Germany. Ørsted has entered into an agreement with Ostwind, a German developer, owner, and operator of … Continue reading Ørsted completes acquisition of German and French onshore wind platform Ostwind
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Ørsted acquires its first solar project in Ireland
Ørsted has completed the acquisition of the Ballinrea solar PV project in Ireland from experienced renewable energy developer Terra Solar. The 65 MW solar project will be located in Cork, the second-largest city in Ireland, and will become Ørsted’s first solar project in the country. Ballinrea Solar Farm is expected to generate enough green energy … Continue reading Ørsted acquires its first solar project in Ireland
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Continued expansion in offshore and onshore wind energy
Today, Ørsted’s Board of Directors approved the interim report for the first half year of 2022. Operating profit (EBITDA) for the first half of the year amounted to DKK 13.0 billion, in line with the same period last year. EBITDA excluding new partnerships increased by 48 % to DKK 11.4 billion. Net profit amounted to DKK … Continue reading Continued expansion in offshore and onshore wind energy
Continue readingØrsted extends its 100% renewable electricity target to all suppliers
Ørsted has set a clear expectation towards all suppliers to use 100 % renewable electricity by 2025, becoming the first energy company in the world to do so. The commitment builds on learnings from Ørsted’s existing supply chain decarbonisation programme, first established in 2020, and supports the company’s industry-first science-based 2040 net-zero target. The company … Continue reading Ørsted extends its 100% renewable electricity target to all suppliers
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Ørsted inaugurates ‘Taiwan Offshore Wind Farms Operations and Maintenance Hub’
The O&M hub is the largest in Asia-Pacific in terms of service capacity and area, and it’s the first green-designed O&M facility in the region. Ørsted brings unparalleled operations expertise and full-scale O&M deployment of a Taiwanese operations team, customized service operation vessel and new-built facility. Mads Nipper, Group President and CEO of Ørsted (centre); … Continue reading Ørsted inaugurates ‘Taiwan Offshore Wind Farms Operations and Maintenance Hub’
Continue readingØrsted acquires German and French onshore wind platform Ostwind
Ørsted has entered into an agreement with Ostwind, a German developer, owner, and operator of onshore wind and solar PV projects in Germany and France, to acquire a 100 % equity interest in OSTWIND Erneuerbare Energien GmbH, OSTWINDpark Rotmainquelle GmbH & Co. KG, OSTWIND International S.A.S., and OSTWIND Engineering S.A.S. from OSTWIND AG, a holding … Continue reading Ørsted acquires German and French onshore wind platform Ostwind
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