Ørsted Sharpens Strategy To Maintain Green Energy Major Status

Danish wind energy major Ørsted, that claims to run completely on green energy, approves fresh strategic ambition and financial guidance. 

Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products. It has installed a total of 12 GW of renewable energy capacity over the past decade. And now, it is looking at the opportunity to increase its RE portfolio as by 2030, the global installed capacity of RE is expected to almost triple. Offshore wind is expected to grow by a factor of 7 and onshore renewables by a factor of 2.5-3. 

Ørsted seeks to contribute to this target and aiming to reach approx. 50 GW of installed capacity by 2030. This target of 50 GW installed capacity falls under the new strategic ambition and financial guidance: 

Out of this 50 GW, Ørsted is targeting about 30 GW from offshore wind energy, 17.5 GW from onshore wind and solar PV, and 2.5 GW from other renewables, including sustainable biomass, renewable hydrogen, and green fuels. To get there. the RE company has also announced an investment of DKK (Danish Krone) 350 billion from 2020 through 2027. In the period 2020-2027, Ørsted expects growth from offshore and onshore assets of approx. 12 percent a year on average, reaching a level of DKK 35-40 billion in 2027. 

Additionally, under its strategic ambitions, Ørsted announced a ban on the landfilling of wind turbine blades, with immediate effect. It commits to either reusing, recycling, or recovering 100 percent of all blades coming from its onshore and offshore wind farms.

Speaking of their goals, the Group President and CEO of Ørsted, Mads Nipper says, “Our aspiration is to become the world’s leading green energy major by 2030. With the offshore wind industry’s largest concrete development pipeline, our global development organization, and our industry-leading commitment to innovation, it’s our clear aspiration to remain the global market leader in offshore wind.”

“In onshore wind and solar PV, with our proven track record in scaling and delivering attractive value and as a top-5 developer in the US, we aspire to become one of the world’s top 10 players in onshore renewables. In renewable hydrogen and green fuels, we’ve built a strong platform with industry-leading off-takers, and we intend to grow this platform to become a global leader in renewable hydrogen,” he added.