By Dominic Chopping

Denmark's Orsted AS said Thursday it has decided to change its organizational structure to position better for the expected growth in global renewable energy markets.

The Danish offshore-wind-energy developer said that over the next decade, global renewable energy markets are expected to grow at double-digit annual growth rates, and installed renewable capacity is increase threefold toward 2030.

"To strengthen the ability to tap into this significant growth potential and better serve current and future customers, Orsted has decided to change its organizational structure," it said.

The current corporate structure with three business units--offshore, onshore, and markets & bioenergy--will be replaced by a functional structure comprising commercial and engineering, procurement and construction and operations, and onshore.

The commercial unit will bring together offshore and markets & bioenergy, including hydrogen, and be headed by Martin Neubert who will become chief commercial officer and deputy group chief executive of Orsted.

The EPC & Operations area will bring together the EPC, offshore operations, and bioenergy organizations from the current offshore and markets & bioenergy organizations and be headed by a chief operating officer when one is recruited. CEO Mads Nipper will lead the area until the position has been filled.

Onshore will remain a separate business unit and will continue to be headed by Declan Flanagan.

Markets & bioenergy CEO Morten Buchgreitz will leave Orsted from Feb. 4, while head of offshore EPC and quality, health, safety and environment Anders Lindberg will leave Orsted from mid-February.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

01-28-21 0920ET