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

ORSTED AS

(ORSTED)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 02/19 10:59:58 am
769.9 DKK   +0.75%
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Orsted : Denmark sources record 47% of power from wind in 2019

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01/02/2020 | 06:28am EST
FILE PHOTO: Middelgrunden offshore wind farm is pictured outside Copenhagen

Denmark sourced almost half its electricity consumption from wind power last year, a new record boosted by steep cost reductions and improved offshore technology.

Wind accounted for 47% of Denmark's power usage in 2019, the country's grid operator Energinet said on Thursday citing preliminary data, up from 41% in 2018 and topping the previous record of 43% in 2017.

European countries are global leaders in utilising wind power but Denmark is far in front of nearest rival Ireland, which sourced 28% of its power from wind in 2018 according to data from industry group WindEurope.

Across the European Union, wind accounted for 14% of consumption last year, the group says.

The higher proportion of wind energy in Denmark last year was partly due to Vattenfall [VATN.UL] starting operations at the Horns Rev 3 offshore wind farm in the North Sea in August.

The share of power from wind turbines at sea increased to 18% last year from 14% in 2018, Energinet said. Onshore wind accounted for 29% last year.

The International Energy Agency (IEA) said in October that while power generated from wind turbines at sea only accounts for 0.3% of today's global electricity generation, capacity is set to increase 15-fold over the next two decades.

Denmark aims to reduce greenhouse gas emissions by 70% by 2030, with a new climate law passed late last year targeting an increase in the share of electricity sourced from renewable power to 100%.

Denmark, home to wind turbine giant Vestas and the world's largest developer of offshore wind Orsted, has favourable wind conditions and began investing heavily in wind power in the 1970s.

(Reporting by Jacob Gronholt-Pedersen; Editing by Alex Richardson and Kirsten Donovan)

By Jacob Gronholt-Pedersen

Stocks mentioned in the article
ChangeLast1st jan.
ORSTED AS 0.92% 771.2 Delayed Quote.7.84%
VESTAS WIND SYSTEMS 2.59% 712.4 Delayed Quote.3.45%
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Financials (DKK)
Sales 2020 64 271 M
EBIT 2020 11 325 M
Net income 2020 11 658 M
Debt 2020 24 712 M
Yield 2020 1,47%
P/E ratio 2020 29,7x
P/E ratio 2021 39,0x
EV / Sales2020 5,42x
EV / Sales2021 5,30x
Capitalization 324 B
Chart ORSTED AS
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Technical analysis trends ORSTED AS
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 18
Average target price 704,24  DKK
Last Close Price 771,20  DKK
Spread / Highest target 20,6%
Spread / Average Target -8,68%
Spread / Lowest Target -48,1%
EPS Revisions
Managers
NameTitle
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 AS7.84%46 485
NATIONAL GRID PLC11.60%48 158
ELECTRICITÉ DE FRANCE36.38%45 388
SEMPRA ENERGY6.21%45 354
ENGIE14.93%43 172
E.ON SE20.03%32 245