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

ORSTED AS

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Orsted : Britain launches first major auction for offshore wind leases in a decade

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09/18/2019 | 08:15pm EDT
FILE PHOTO: General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool

LONDON (Reuters) - Britain has launched its first major auction of offshore wind farm leases in a decade, offering sites with the combined potential to power more than six million homes.

Britain is already the world's largest offshore wind market, and plans to generate a third of its electricity from the technology by 2030 as a part of efforts to reach its 2050 net zero carbon emissions target.

The Crown Estate’s so-called fourth leasing round is expected to attract bids from established offshore wind developers as well as European oil majors, under pressure from shareholders to show how they plan to align their businesses with global efforts to cut emissions.

Shell said earlier this year in an interview with Reuters it would take an "active role" in the tender.

The Crown Estate, which acts as manager of the seabed around England, Wales and Northern Ireland said in a statement on Thursday that four broad areas of seabed would be made available to the market.

Combined, the sites have the potential to host a total of 7 gigawatts (GW) of electricity generation.

Companies will assess the areas available and then make their own proposals for project sites.

The Crown Estate will then asses the viability of the proposals, with the tender process beginning in October and expected to take around 12 months.

First seabed rights could be awarded in early 2021, The Crown Estate said.

Its last major licensing round for offshore wind took place a decade ago, with winners including Britain's SSE and Norway’s Statkraft announced in early 2010.

Britain currently has around 9.3 GW of operational offshore wind capacity, with around 8% of the country’s electricity coming from offshore wind in 2018.

It is also host to the world's largest fully operation offshore wind farm: Orsted’s 659 megawatt Walney Extension project.

Crown Estate Scotland is also set to launch an offshore wind seabed licensing round for sites off the Scottish coast in October.

(Reporting by Susanna Twidale; Editing by Mark Potter)

By Susanna Twidale

Stocks mentioned in the article
ChangeLast1st jan.
ORSTED AS -0.29% 622.8 Delayed Quote.43.36%
SSE PLC -0.34% 1308.5 Delayed Quote.20.99%
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Financials (DKK)
Sales 2019 73 953 M
EBIT 2019 10 087 M
Net income 2019 6 699 M
Debt 2019 16 855 M
Yield 2019 1,69%
P/E ratio 2019 39,1x
P/E ratio 2020 24,1x
EV / Sales2019 3,76x
EV / Sales2020 3,79x
Capitalization 262 B
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Mean consensus HOLD
Number of Analysts 18
Average target price 618,67  DKK
Last Close Price 622,80  DKK
Spread / Highest target 52,5%
Spread / Average Target -0,66%
Spread / Lowest Target -51,8%
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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$)
ORSTED AS43.36%39 054
NATIONAL GRID PLC17.64%40 253
ENGIE18.80%39 908
SEMPRA ENERGY33.99%39 799
ELECTRICITÉ DE FRANCE-33.13%31 276
E.ON SE2.36%25 610