Ørsted aims to expand installed renewable energy capacity by 2030

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Ørsted has announced a new strategic goal to boost the generation of renewable energy globally, with a goal of reaching 50 GW of energy capacity by the year 2030. Reportedly, the company plans to invest an estimated DKK 350 billion in green energy over the next few years.

Ørsted forecasts operational earnings from both offshore as well as onshore assets to have a growth rate of around 12% yearly on average between 2020 and 2027, reaching approximately DKK 40 billion in 2027. The company has a strong level of insight into future earnings, where contract-based activities account for approximately 90% of operating profit for the years 2020-2027. The average ROCE is predicted to be around 11%-12% over the estimated timeframe.

President & CEO of Ørsted, Mads Nipper, said that with their firm’s global development organization, and its industry-leading commitment to innovation, Ørsted aims to remain the global market leader in offshore wind. He further predicted that the company’s position in renewable energy which will be technology oriented and well-integrated with newer infrastructure and advancing digitalization.

Mr. Nipper added that with the opportunities the company sees across all of its segments, it now plans on reaching approx. 50 GW of renewable energy capacity by 2030, quadrupling its installed capacity in next decade. He stressed that all new projects would have a positive impact on biodiversity and will ensure that the transformation to green energy takes place in a sustainable way and in harmony with nature.

Ørsted has amassed a renewable energy portfolio of 12 gigawatts (GW) over the last decade. It has built a solid reputation in the offshore wind industry. As reported, the company aims to have established the 1.4 GW Hornsea Two offshore wind farm off the UK's east coast in 2022, which is expected to be the world's largest offshore wind farm.

Source Credit: https://www.4coffshore.com/news/%C3%B8rsted-aims-for-50-gw-of-renewable-energy-by-2030-nid23612.html