Ørsted Accelerates Growth to Realise Its Full Potential As a Global Green Energy Major

Jun 2, 2021 11:00 AM ET
Press Release

Renewable energy leader Ørsted accelerates its global build-out of renewable energy and sets the ambition to reach approx. 50 GW of installed capacity by 2030. To support this ambitious build-out, the company plans to invest approx. DKK 350 billion in green energy from 2020 to 2027.

COPENHAGEN, Denmark, June 2, 2021 /3BL Media/ Over the past decade, Ørsted has built a global market-leading position in renewable energy with a total of 12 GW of installed renewable capacity.

To continue to lead in the global green energy transformation and realise its full potential as a global green energy major, Ørsted now accelerates its global build-out of renewable energy and sets the ambition to reach approx. 50 GW of installed capacity by 2030. To support this ambitious build-out, Ørsted plans to invest approx. DKK 350 billion in green energy from 2020 to 2027. The announcement was made at the company’s Capital Markets Day 2021 on 2 June.

The global build-out of renewable energy is expected to accelerate significantly, supported by governments around the world committing to ever more ambitious renewable-specific targets to limit global warming. By 2030, the global installed capacity of renewable energy 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. This massive build-out of renewable energy presents unparalleled growth opportunities for Ørsted.

Mads Nipper, Group President and CEO of Ørsted, 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 organisation, 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, it’s our aspiration 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 offtakers, and we intend to grow this platform to become a global leader in renewable hydrogen.

With the opportunities we see across all of our segments, we now set the ambition of reaching approx. 50 GW of installed renewable energy capacity by 2030, more than quadrupling our installed capacity over the next decade.

With this strategic ambition, we’re positioning Ørsted to be a leading player in a future energy system with more renewable energy which will be much more integrated across technologies and tied together by new infrastructure and increased digitalisation.

Being named the world’s most sustainable energy company for now three years in a row, it’s our aspiration to be a globally recognised sustainability leader and to accelerate our efforts to operate our company in an even more sustainable way. That’s why we now set the ambition that no later than 2030, all new projects commissioned must have a net-positive biodiversity impact, fully supporting that the transformation to green energy must take place in a sustainable way and in harmony with nature.

Furthermore, we are today, with immediate effect, announcing a ban on the landfilling of wind turbine blades. Going forward, Ørsted commits to either reusing, recycling, or recovering 100 % of all blades coming from repowering or end-of-design-life decommissioning of our onshore and offshore wind farms.

It’s our aspiration to be a leading catalyst for the global green energy transition towards a world that runs entirely on green energy and to be the preferred partner for our customers, local communities, suppliers, and joint venture partners, enabling all our stakeholders to realise the green transformation and its benefits.”

For more on Ørsted’s renewable energy pipeline, ambitions and financial guidance, read the Capital Markets Day 2021 announcement, where you will also find the material presented during the Day.

Contact: Martin Barlebo, Head of Media Relations, Ørsted, + 45 99 55 95 52

About Ørsted

The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers. Ørsted ranks as the world’s most sustainable energy company in Corporate Knights' 2021 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in Denmark, Ørsted employs 6,311 people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2020, the group's revenue was DKK 52.6 billion (EUR 7.1 billion). Visit orsted.com or follow us on Facebook, LinkedIn, Instagram, and Twitter.