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    ORSTED   DK0060094928

ORSTED A/S

(ORSTED)
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Orsted, Enefit Sign Memorandum of Understanding on Baltic Wind Farms

04/26/2021 | 02:49am EDT

By Dominic Chopping

Orsted AS said Monday that it has signed a memorandum of understanding with Baltic utility and wind-energy company Enefit which outlines a plan to deliver the first offshore wind farm in the Gulf of Riga in the Baltic Sea.

In September, the Latvian and Estonian governments signed a memorandum of understanding for a joint offshore wind farm and Orsted and Enefit hope to deliver this before 2030.

As part of the deal, Orsted and Enefit intend to establish a joint venture for the development of offshore wind opportunities in the Baltic countries, including the Liivi offshore wind project in the Estonian part of the Gulf of Riga.

In addition, Orsted, a Danish renewable-energy developer, has submitted an application for an area in Latvian waters next to the Liivi site.

"Through these sites, the partnership aims to pursue a cross-border hybrid solution, which will connect an offshore wind farm to both Latvia and Estonia," Orsted said.

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

(END) Dow Jones Newswires

04-26-21 0248ET

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Financials
Sales 2021 57 986 M 9 488 M 9 488 M
Net income 2021 11 843 M 1 938 M 1 938 M
Net Debt 2021 22 721 M 3 718 M 3 718 M
P/E ratio 2021 31,1x
Yield 2021 1,39%
Capitalization 375 B 61 245 M 61 340 M
EV / Sales 2021 6,86x
EV / Sales 2022 6,87x
Nbr of Employees 6 311
Free-Float 44,8%
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Technical analysis trends ORSTED A/S
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 25
Average target price 1 066,83 DKK
Last Close Price 892,40 DKK
Spread / Highest target 90,5%
Spread / Average Target 19,5%
Spread / Lowest Target -38,4%
EPS Revisions
Managers and Directors
NameTitle
Mads Nipper Group President & Chief Executive Officer
Marianne Wiinholt Chief Financial Officer
Thomas Thune Andersen Chairman
Lene Skole-SÝrensen Deputy Chairman
Lynda Anne Armstrong Independent Director
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