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June 3, 2021updated 09 Nov 2021 12:25pm

Ørsted plans to invest $57bn in green energy by 2027

Ørsted aims to have installed 50GW of renewable energy capacity by 2030.

By Umesh Ellichipuram

Danish energy company Ørsted has announced plans to increase its investment in renewables to DKK350bn ($57bn) by 2027 to realise its full potential as a global green energy major.

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Of the total investment, 80% could be invested in offshore wind, including renewable hydrogen, while 20% is expected to be allocated to onshore wind.

The investment decision would accelerate the company’s average yearly investments by around 50% since its last Capital Markets Day announcement in 2018.

Ørsted has set a target to have 50GW of renewable energy capacity installed by 2030.

Of this capacity, almost 30GW will come from offshore wind, while around 17.5GW will come from onshore wind farms and solar photovoltaic (PV) facilities.

The company aims to source almost 2.5GW from other renewables, including sustainable biomass, renewable hydrogen and green fuels.

Ørsted Group president and CEO Mads Nipper said: “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-five developer in the US, it’s our aspiration to become one of the world’s top ten players in onshore renewables.”

Ørsted’s Board of Directors has approved the company’s new strategic ambition and financial guidance in connection with its Capital Markets Day.

The company has also announced a ban on the landfilling of wind turbine blades with immediate effect.

Going forward, it plans to either reuse, recycle or recover all blades coming from the repowering or end-of-design-life decommissioning of its onshore and offshore wind farms.

Last month, Ørsted partnered with Japan Wind Development (JWD) and Eurus Energy to develop offshore wind projects in Japan’s Akita Prefecture.

The partnership will combine JWD’s knowledge of the Japanese power market, Ørsted’s experience in offshore wind farms development and Eurus Energy’s operational track record in the Akita Prefecture.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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