Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Orsted    ORSTED   DK0060094928

My previous session
Most popular
Real-time Quote. Real-time CHI-X - 12/14 09:28:38 am
455.05 DKK   -0.77%
10/17Potential candidates to become Danske Bank's next CEO
08/06OERSTED A/S : half-yearly earnings release
01/29OERSTED A/S : annual earnings release
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Orsted : to invest $30 billion in green energy by 2025

share with twitter share with LinkedIn share with facebook
share via e-mail
11/28/2018 | 01:33pm CET
FILE PHOTO: General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool

COPENHAGEN (Reuters) - Denmark's Orsted will invest $30 billion (23.45 billion pounds) in green energy up to 2025, it said on Wednesday, as it seeks to become one of a handful of future "renewable majors" leading a global transition from fossil fuels to green energy.

While renewable energy technology is now able to compete with traditional power sources, the industry remains vulnerable to changing political winds as governments around the world scramble on how to address climate change.

Orsted, the world's largest offshore wind developer, said it would have 15 gigawatts (GW) of offshore wind power capacity by 2025, up from a previous target of 11-12 GW and plans to further double capacity by 2030 to more than 30 GW.

One of the key drivers will be expansion in the nascent U.S. market, where it recently made two acquisitions to gain a foothold in both onshore and offshore wind.

U.S. President Donald Trump has blasted renewable energy as expensive, accused wind turbines of killing birds and ruining landscapes while vowing to revive the coal industry.

While Trump this week rejected projections from his own government that climate change will cause severe economic harm, many states have set ambitious targets to source energy from carbon-free sources.

However, so far the impact on Orsted's business has not been negative, its U.S. chief told Reuters.

"It has been quite positive under this administration," Thomas Brostrom said, pointing to efforts to remove red tape around environmental approvals and new auctions for acreage.

He said the efforts were driven more by consideration for energy independency and job creation rather than reducing carbon emissions.

Orsted is also betting big on growing in Taiwan, which with a big push to attract investments in renewable technology, has become a key battleground for the world's top offshore wind developers seeking a foothold in Asia.

However, Orsted acknowledged that offshore wind projects in Taiwan could face delays after voters last week decided against a government plan to abolish nuclear power.

The vote prompted Taiwan to scrap its target of having no nuclear power by 2025 and to review its energy policy, which since 2011 has been driven by the Fukushima nuclear accident.

Before the vote, the island's offshore wind market was expected to expand to 5.5 GW by 2025, with government investments into onshore and offshore wind of $23 billion.

"It was not a vote to stop the nuclear phase-out," senior vice president at Orsted, Thyge Boserup, said.

"I think it's rather the speed of the phase-out that is up for discussion," he said.

For a graphic on Cost of offshore wind, see - https://tmsnrt.rs/2Re2b2k

(Reporting by Stine Jacobsen and Jacob Grønholt-Pedersen; Editing by Alexandra Hudson and David Evans)

By Stine Jacobsen and Jacob Gronholt-Pedersen

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on ORSTED
12/13ORSTED : Ørsted announces offshore wind biodiversity policy
11/30ORSTED : Ørsted’s Financial Calendar 2019
11/28ORSTED : to invest $30 billion in green energy by 2025
11/28ORSTED : Ørsted sets new, ambitious targets for the group’s long-term stra..
11/26ORSTED : Ørsted completes divestment of 50% of Hornsea 1 Offshore Wind Farm
11/21Google invests $700 million in Danish data centre, secures green energy
11/20Google invests $700 million in Danish data centre, secures green energy
11/15ORSTED : Conclusion of share buy-back programme
11/09ORSTED : Transactions in connection with share buy-back programme
11/08ORSTED : Ørsted completes acquisition of Deepwater Wind
More news
Financials (DKK)
Sales 2018 70 861 M
EBIT 2018 22 343 M
Net income 2018 17 915 M
Debt 2018 22 587 M
Yield 2018 2,07%
P/E ratio 2018 10,87
P/E ratio 2019 30,40
EV / Sales 2018 3,04x
EV / Sales 2019 3,04x
Capitalization 193 B
Duration : Period :
Orsted Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ORSTED
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 447  DKK
Spread / Average Target -2,5%
EPS Revisions
Henrik Poulsen Chief Executive Officer
Thomas Thune Andersen Chairman
Marianne Wiinholt Chief Financial Officer
Hanne Sten Andersen Non-Independent Director
Poul Dreyer Non-Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
ORSTED35.40%29 321
ENGIE-10.88%35 026
SEMPRA ENERGY9.99%31 925
E.ON1.75%22 754