Ørsted, PGE Form JV for 2.5 GW Offshore Wind Projects in Baltic Sea

Ørsted and PGE will form a 50/50 JV for the development and operation of two offshore wind projects in the Baltic Sea worth 2.5 GW. Ørsted and PGE Polska Grupa Energetyczna (PGE) have signed an agreement to form a 50/50 joint venture (JV) for the development, construction and operation of two offshore wind projects in […]

Read more

Ørsted Reorganises to Position for Future Growth

Over the past decade, Ørsted has successfully undertaken one of the most profound transformations in the global energy industry, transforming from a fossil-based Danish utility business into a global leader in green energy. Over the next decade, global renewable energy markets are expected to grow at double-digit annual growth rates, and installed renewable capacity is […]

Read more

Orsted, SGRE Consortium Receives Funding to Investigate Offshore Hydrogen Production

ITM Power, Ørsted, Siemens Gamesa Renewable Energy, and Element Energy have been awarded EUR 5 million in funding from The Fuel Cells and Hydrogen Joint Undertaking (FCH2-JU) under the European Commission to demonstrate and investigate a combined wind turbine and electrolyser system designed for operation in marine environments. The Fuel Cells and Hydrogen 2 Joint […]

Read more

2.4 GW Hornsea 3 Offshore Wind Farm Cleared for Development

The UK Government has finally approved the application and given development consent for the 2.4 GW Hornsea 3 offshore wind farm The UK Government has announced that it has given development consent for Ørsted’s Hornsea Project Three (3) offshore wind farm. The project which offers an approximate capacity of up to 2400 MW (2.4 GW) […]

Read more

Ørsted Brings on Co-Investors for its 605 MW Offshore Wind Farm in Taiwan

Ørsted has brought on CDPQ and Cathay PE, to co-invest in the 605 MW Greater Changhua 1 Offshore Wind Farm off the coast of Taiwan Offshore wind major Ørsted has announced that it has signed an agreement with a consortium of world-leading investors, which consists of global institutional investor Caisse de dépôt et placement du […]

Read more

Ørsted Divests 25% of 1.1 GW Ocean Wind Offshore Project

Ørsted has entered into an agreement to sell a 25% ownership interest in its 1,100 MW Ocean Wind offshore wind project to New Jersey’s PSEG. Ørsted has entered into an agreement to sell a 25 percent ownership interest in its 1,100 MW Ocean Wind offshore wind project to New Jersey’s Public Service Enterprise Group (PSEG). […]

Read more

Ørsted Takes FID on 430 MW Solar Project Near Houston

Ørsted has taken final investment decision on the Old 300 Solar Center, which is located in Fort Bend County, 40 miles from Houston, Texas, and is expected to come online in Q2 2022. Over the past year, Ørsted has significantly increased its solar portfolio and with the addition of Old 300, now has 1.1 GW […]

Read more

Ørsted Appeals Against Danish Tax Agency Decision on 2 Offshore Wind Farms in the UK

Today, Ørsted received an administrative decision from the Danish Tax Agency requiring Danish taxation of the company’s British offshore wind farms Walney Extension and Hornsea 1 in the tax years 2015 and 2016. The Danish Tax Agency’s claim amounts to DKK 5.1 billion, plus interest amounting to DKK 1.5 billion. According to the decision, Ørsted is to […]

Read more

Ørtsed Reports Strong First Half for 2020, Operating Profit of $1.5 Bn

Ørsted has issued its interim report for the first half of 2020, reporting an operating profit (EBITDA) of USD 1.5 billion, an 11 percent increase YoY The Board of Directors at Ørsted has approved the interim report for the first half (H1) of 2020. The firm reported an operating profit (EBITDA) of DKK 9.8 billion […]

Read more