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    ORSTED   DK0060094928

ORSTED A/S

(ORSTED)
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195;rsted A/S Ørsted Commences Construction Of Largest Onshore Project To Date

03/30/2021 | 12:15am EDT
TIDMORSTED 
 
 
   Ørsted announces final investment decision on the combined wind and 
solar PV project Helena Energy Center in South Texas and integrates the 
US trading team into the Onshore business. 
 
   Ørsted has taken a final investment decision on its largest onshore 
project to date, the 518 MW hybrid wind and solar PV project, Helena 
Energy Center, with an expected operational date in the first half of 
2022. 
 
   The project expands Ørsted's onshore portfolio to Bee County, South 
Texas. The hybrid nature of the project allows Ørsted to maximise 
the use of the excellent location, in a highly liquid market, on a 
primary transmission import path into the San Antonio load centre and in 
an area characterised by strong coastal winds and sunshine. 
 
   The Helena Energy Center consists of 268 MW Helena Wind and 250 MW(AC) 
solar PV Sparta Solar, and has secured contracts with multiple corporate 
offtakers including Henkel for a portion of the wind generation and 
Target for a portion of the solar generation. 
 
   As part of the Helena Energy Center project, Ørsted is partnering 
with the Texas Native Seeds Program, a non-profit research and 
development program of Caesar Kleberg Wildlife Research Institute at 
Texas A&M - Kingsville, to research the optimal seed mix and planting 
process to grow native grasses under a portion of the solar project. 
Potential benefits include lower operational costs, enhanced 
biodiversity to attract pollinators, lower erosion, and production 
improvements by lowering the ambient temperature. 
 
   Ørsted is building at scale and ranked among the top five US 
constructors in terms of capacity additions in 2020. The project takes 
Ørsted's onshore operational and under construction portfolio to 4 
GW, a portfolio that is both geographically and technologically diverse, 
spanning Texas, the Midwest, and Southeast US across wind, solar, and 
storage. 
 
   With the significant portfolio growth over the coming years, 
Ørsted's US energy trading team, up to now part of the company's 
Markets business unit, has been integrated into Ørsted's onshore 
business, strengthening the ability for Ørsted to manage risk more 
dynamically. Ben Pratt has been appointed to lead the Chicago-based team 
and joins the Onshore management team which continues to be headed by 
Onshore CEO Declan Flanagan. 
 
   "We've quickly become one of the largest constructors of new wind and 
solar in the US, and having world-class capabilities in all facets of 
energy markets is central to our ambitious growth plans," said Declan 
Flanagan, Executive Vice President & CEO Onshore at Ørsted. The 
integration of our Chicago-based trading team under Ben's leadership 
further sharpens our focus and execution capability," continued 
Flanagan. 
 
   Previously, Ben served as Senior Managing Director with Uniper Global 
Commodities (formerly E.On), and has extensive background managing 
portfolio risk across the entire power market complex. 
 
   About Ørsted 
 
   The Ørsted vision is a world that runs entirely on green energy. 
Ørsted develops, constructs, and operates offshore and onshore wind 
farms, solar farms, energy storage facilities, and bioenergy plants, and 
provides energy products to its customers. Ørsted ranks as the 
world's most sustainable energy company in Corporate Knights' 2021 index 
of the Global 100 most sustainable corporations in the world and is 
recognised on the CDP Climate Change A List as a global leader on 
climate action. Headquartered in Denmark, Ørsted employs 6,179 
people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). 
In 2020, the group's revenue was DKK 52.6 billion (EUR 7.1 billion). 
Visit orsted.com or follow us on Facebook, LinkedIn, Instagram, and 
Twitter. 
 
   For further information, please contact: 
 
   Media Relations 
 
   + 45 99 55 95 52 
 
   https://www.globenewswire.com/Tracker?data=cMFZa0UtTBP4fjTJWxUjc1soZDjP4e0FkouVnLwSmWA1A-1NKVo6KZ_XwNR9Ftxv9IXYWLyDB4tcA_aOn4WTWw== 
mikon@orsted.dk 
 
   Investor Relations 
 
   Allan Bødskov Andersen 
 
   + 45 99 55 79 96 
 
 
 
   Attachment 
 
 
   -- EN_Helena Energy Center_Press release 
      https://ml-eu.globenewswire.com/Resource/Download/8cb9fe37-2d7f-4cfb-95e5-4844832006d7 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

03-30-21 0215ET

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Financials
Sales 2021 55 148 M 8 891 M 8 891 M
Net income 2021 13 019 M 2 099 M 2 099 M
Net Debt 2021 21 535 M 3 472 M 3 472 M
P/E ratio 2021 32,7x
Yield 2021 1,25%
Capitalization 415 B 66 845 M 66 885 M
EV / Sales 2021 7,91x
EV / Sales 2022 7,46x
Nbr of Employees 6 179
Free-Float 44,8%
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Mean consensus HOLD
Number of Analysts 26
Average target price 1 068,88 DKK
Last Close Price 987,60 DKK
Spread / Highest target 72,1%
Spread / Average Target 8,23%
Spread / Lowest Target -44,3%
EPS Revisions
Managers and Directors
NameTitle
Mads Nipper Group President & Chief Executive Officer
Marianne Wiinholt Chief Financial Officer
Thomas Thune Andersen Chairman
Lene Skole-Sørensen Deputy Chairman
Lynda Anne Armstrong Independent Director
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