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Windtech International May June 2024 issue






In connection with the company's Capital Markets Day, the Board of Directors has approved Ørsted's new strategic ambition and financial guidance. Ørsted's strategic ambition for build-out of renewable energy is raised from +30 GW announced at the Capital Markets Day in 2018 to approximately 50 GW by 2030, of which approximately 30 GW will come from offshore wind, approximately 17.5 GW from onshore wind and solar PV, and approximately 2.5 GW from other renewables, including sustainable biomass, renewable hydrogen, and green fuels.
This ambition corresponds to an investment level for the period 2020-2027 of approx. DKK 350 billion of which approx. 80 % is expected to be within offshore wind, including renewable hydrogen, and approx. 20 % within onshore.

In the period 2020-2027, Ørsted expects a growth in operating profit (EBITDA) from offshore and onshore assets in operation of approximately 12 % a year on average, reaching a level of DKK 35-40 billion in 2027. The growth rate assumes that all offshore projects where Ørsted does not already have a joint venture partner are farmed down to a 50 % ownership stake.
Furthermore, Ørsted, with immediate effect, has announced 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 its onshore and offshore wind farms.
Ørsted also has set the ambition to deliver a net-positive biodiversity impact from all new renewable energy projects it commissions from 2030 at the latest. A net-positive impact occurs when a project has an overall positive biodiversity impact due to active measures taken to offset potential biodiversity losses. When developing new projects, Ørsted will systematically implement initiatives that ensure an overall net-positive contribution to natural ecosystems, habitats, and species in and around the company's new renewable energy projects. Ørsted will also seek to identify initiatives that can have a positive impact on biodiversity before 2030.
Ørsted is on track to be carbon-neutral in energy generation and operations by 2025 and targets a carbon-neutral supply chain in 2040.
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