Ørsted

Ørsted A/S (CPH: ORSTED) is a global renewable energy company headquartered in Denmark. The company develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants. Ørsted was listed on the Nasdaq Copenhagen stock exchange in 2016. For the full year 2023, the group reported revenue of DKK 79.3 billion (EUR 10.6 billion).

Ørsted's product portfolio includes:

• Offshore wind farms: The company is a global leader in offshore wind, with approximately five gigawatts in development in the US

• Onshore wind farms: Ørsted has onshore wind projects across the US

• Solar farms: The company develops utility-scale solar projects, including the 600-megawatt Eleven Mile Solar Center in Arizona.

• Energy storage: Ørsted is expanding into standalone battery storage projects and co-located solar plus storage facilities.

• Renewable hydrogen and e-fuels: The company is developing green hydrogen and e-fuels capabilities.

• Bioenergy plants: Ørsted operates bioenergy facilities as part of its renewable energy mix.

Ørsted has set ambitious growth targets, aiming to reach 35-38 GW of renewable energy capacity globally by 2030, including 20-22 GW of offshore wind. The company is investing heavily in the US market, with plans to invest USD 68.3 billion in renewable energy projects by 2030. In 2024, Ørsted partnered with Mission Clean Energy to develop one GW of standalone battery storage projects across the Midwest US, marking its entry into large-scale energy storage. The company continues to expand its US presence, leveraging incentives from policies like the Inflation Reduction Act to accelerate clean energy deployment.