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Ørsted announced plans to invest $30bn in green energy by 2025

Ørsted announced plans to invest $30bn in green energy by 2025

The Danish energy company, Ørsted, has revealed plans to invest DKK200bn (US$30bn) in green energy by 2025. The company has made the plans as it intends to become one of the future’s “renewable majors”. The firm is transitioning from focusing its operations on fossil fuels to renewable power.

In October last year, the company changed its name from DONG Energy to Ørsted as “DONG was originally short for Danish Oil and Natural Gas,” according to Thomas Thune Andersen, Chairman of the Board of Directors of the firm.

Ørsted is the largest offshore win developer, and has set the goal of reaching 15GW of offshore wind capacity by 2025, and 30GW by 2030.

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“We expect the global market for renewable energy to more than triple towards 2030. As one of the leading companies within renewable energy, Ørsted has a strong platform to take part in this build-out,” Henrik Poulsen, CEO and President of Ørsted.

“We have a strong growth platform to support our strategic ambition. We want to maintain our position as global market leader in offshore wind and continue our build-out in Europe, North America and Asia.”

“Our second growth platform is our Onshore business, consisting of onshore wind, solar energy and energy storage. It’s our ambition to create a leading North American company within renewable energy.”

“In addition, we’ll continue to explore the growth and value creation potential in our Bioenergy business and strengthen the route to market for our product portfolio in Customer Solutions.”

“Moving towards 2025, we plan to invest DKK 200 billion in green energy, thereby contributing to the transformation of the global energy system and creating value for our shareholders and the communities we are part of.”

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