Orsted A/S : Ørsted Welcomes UK Government Net Zero Strategy

Duncan Clark, Head of UK Region for Ørsted, said:

"The UK Government's Net Zero Strategy and Net Zero Review are very welcome as they underline once again the fiscal, social and environmental case for investing to achieve a zero carbon economy. Delivering at least 40GW ofoffshore windby 2030 will be crucial to achieving net zero in the UK and will also unlock huge opportunities, both domestically and overseas, for companies in the world class UK supply chainto market the skills and innovative technologies that have been fostered in the UK offshore wind industry.

"Offshore wind underpins the most cost-effective way to achieve the UK's net zero ambitions and delivering 40GW of offshore wind by 2030 is an essential first step on this roadmap. This is a challenging target, but achievable if Government and the industry continue to work together to remove barriers to deployment and ensure the UK project pipeline has access to regular Contracts for Difference auctions - providing route to market for investors. Regular release of suitable sea areas is also essential to keep the project pipeline for net zero well stocked.Alongside this, we must also fully exploit the potential of innovative technologies like renewable hydrogen and floating wind to accelerate our progress to a more sustainable, low-carbon future."