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From 2019-2025, Ørsted expects total gross investments of approx DKK 200 billion. Investments in offshore wind farms are expected to constitute 75-85% of the investment programme. Onshore investments are expected to constitute 15-20%, while our combined investments in Bioenergy and Customer Solutions are expected to constitute 0-5% of the investment programme.
 
Towards 2023, they expect an increase in operating profit (EBITDA) from offshore and onshore wind farms of 20% a year until reaching a level of DKK 25-26 billion in 2023. Ørsted has won a series of offshore wind projects in competitive tenders since 2015 (Borssele 1&2, Hornsea 2, Gode Wind 3&4, Greater Changhua 1&2a and 2b&4 and Revolution Wind). Return on capital employed (ROCE) for 2019-2025 is expected to be approximately 10%. The reduction compared to earlier estimates is a result of earnings from the partial divestment of Hornsea 1 in 2018 being outside this period and of the acquisitions of Lincoln Clean Energy and Deepwater Wind, which increase the capital expenditure in these years and contribute to the earnings with a time lag. The strategic plan entails an expected increase of the share of green energy in the overall generation from 64% in 2017 to 99% in 2025.
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