Orsted sets out new green goals

5 December 2018

Sian Crampsie

Danish energy giant Orsted has set out new, ambitious goals for its business.

The company has unveiled an investment programme that will see it spend over $30 billion in green energy projects between 2019 and 2925. It is aiming to reach an installed capacity of more than 30 GW by 2030.

Orsted currently has 11.9 GW of renewable energy capacity either operating, under construction or ready to build, and a further4.7 GW of projects in its development pipeline. It says it is raising its 2025 ambition for offshore wind from 11-12 GW to 15 GW.

“We have a strong growth platform to support our strategic ambition. We want to maintain our position as global market leader in offshore wind and continue our build-out in Europe, North America and Asia,” said Orsted CEO and President Henrik Poulsen. “Our second growth platform is our onshore business, consisting of onshore wind, solar energy and energy storage.

“Moving towards 2025, we plan to invest DKK 200 billion in green energy, thereby contributing to the transformation of the global energy system and creating value for our shareholders and the communities we are part of.”

“Investments in offshore wind farms are expected to constitute 75-85 per cent of the investment programme,” Orsted said in a statement. “Onshore investments are expected to constitute 15-20 per cent, while our combined investments in bioenergy and customer solutions are expected to constitute 0-5 per cent of the investment programme.”

Ørsted has won a series of offshore wind projects in competitive tenders since 2015, including Borssele 1 & 2, Hornsea 2, Gode Wind 3 & 4, Greater Changhua 1 & 2a and 2b & 4, and Revolution Wind.

By 2025, Orsted expects the share of green energy in generation to reach 99 per cent, up from 64 per cent in 2017.

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