Offshore Wind: Orsted Earnings, Shares Dented by Lower Wind Speeds, Cable Problems
Danish crowns ($799 million), missing analysts' consensus forecast of 5.2 billion crowns.However, Chief Executive Mads Nipper said the company's operational performance "was good during Q1 2021 and slightly exceeded our expectations".Nipper took the helm in January. His predecessor, Henrik Poulsen, stepped down after leading the energy company's transformation away from fossil fuels.Orsted said quarterly earnings suffered from significantly lower wind speeds compared to last year, and a warranty provision of 800 million crowns made after it discovered cable problems at its offshore
Orsted to Invest in 'Green Hydrogen' Pilots
Danish wind farm developer Orsted aims to invest in pilot projects that will use wind power and other renewable energy sources to make hydrogen fuel, its chief executive said.Henrik Poulsen told Danish business daily Boersen that "green hydrogen", which is made from renewable resources rather than fossil fuel, could be used to store energy and create a renewable power source to transform transport and industry."We are ready to invest in pilot projects and are working on finding good pilot projects," he said, adding "green hydrogen" was a "strategic extension of both
Ørsted Joins Dutch Offshore Wind Tender
Hollandse Kust Zuid lll and lV offshore wind zones in the Dutch North Sea.As part of its proposal to the Dutch government, Ørsted has already taken the final investment decision on the project and is working to establish green hydrogen projects based on power from its Dutch offshore wind farms.Henrik Poulsen, CEO and President of Ørsted, says: "We're strongly committed to the Netherlands, and we believe that our bid for Holland Coast South 3&4 offers significant benefits for the Dutch society in terms of clean and cost-competitive energy as well as industrial development. By bringing
Ørsted, Tepco Join Forces for Japan Offshore Push
generating source by developing 6 to 7 GW of renewable energy projects in Japan and overseas. The partnership with Ørsted will provide us with a very strong platform to scale up our renewable energy business as one of our main pillars of business growth.”Ørsted CEO and President, Henrik Poulsen, remarked: “Our vision is to create a world that runs entirely on green energy, and we look forward to expanding our presence in the Asia-Pacific region and bringing over two decades of offshore wind knowledge into this partnership for the Choshi project.”“As the largest player
DONG Faces Tough Year as Offshore Wind Returns Drop
bid to produce electricity for a price of 50 euros per megawatt hour (MWh). That beat a record DONG had itself set four months earlier with a price of 72.7 euros per MWh for a Dutch project. "We were all surprised about how fast prices have come down," DONG Energy's chief executive Henrik Poulsen told investors and analysts at a capital markets day in Copenhagen on Thursday. "Some people have said that the outcome of the (Dutch and Danish) tenders was the end of value creation in offshore wind. I firmly believe that's a wrong conclusion," he said. Some 18.2
DONG Energy to Exit O&G Business
possible sale. Its IPO prospectus had said its oil and gas business would focus on "a portfolio of low-cost, low-risk, long-term assets" but the company said by emphasising renewables, it had made clear that it did not see oil and gas as a long term strategic commitment. Chief Executive Henrik Poulsen said on Tuesday DONG had spent the last 12-15 months restructuring its oil and gas business to "focus on high quality, low cost assets" and "a combination of a number of different factors" had made it decide to sell. "We are still in a very early stage of exploring
Offshore Wind to Compete with Fossil Fuels -DONG CEO
DONG Energy's Chief Executive Henrik Poulsen said renewable energy like wind will be produced at a lower cost in the future. "I have no doubt that costs of offshore wind and solar energy over time will come down and be at same level as fossil fuels," Poulsen said. "Our vision is that green energy will be cheaper than conventional energy. It can happen within a decade." "Five years ago the price for producing one megawatt was about 160 euros. We expects to reduce that to around 100 euros per megawatt before 2020." "Production
DONG Energy Shares Jump after European IPO
from fossil fuel, showed investors were growing in confidence about the future for renewable energy as technologies improve and governments commit to curbing carbon emissions. "It is our clear impression the green transition has a pretty strong momentum," DONG Chief Executive Henrik Poulsen told Reuters. "Our vision is that green energy will be cheaper than conventional energy. It can happen within a decade." DONG, which has built more than a quarter of the world's offshore wind farms, sold shares in its initial public offering (IPO) at 235 Danish crowns apiece
DONG Get Billions in Funding, Appoint New CFO
, ATP for DKK 2.2 billion and PFA for DKK 0.8 billion. Coincidentally, Carsten Krogsgaard Thomsen will step down as CFO after 11 years with DONG Energy. His successor will be Marianne Wiinholt, who comes from the position of Senior Vice President of DONG Energy's Customers & Markets division. Henrik Poulsen, DONG Energy’s CEO, says: “I would like to thank Carsten for the huge contribution he has made to the company over many years. He has been a valuable and loyal part of DONG Energy’s management through all of those years. I wish him all the best with new challenges.&rdquo
February 2025
