Presentation

Ørsted is the world’s largest owner and operator of offshore wind farms with a 40% market share. Ørsted pioneered the industry through construction of the world’s first offshore wind farm in 1991. Ørsted was founded in 1972 as Danish Olie og Naturgas (DONG) to manage Denmark’s offshore hydrocarbons. In 2009, the company launched its “85/15” strategy, aiming to flip 85% fossil fuels and 15% renewables to 85% renewables and 15% fossil fuels. Ørsted managed to do this in less than a decade. Furthermore, the company sold its remaining oil and gas business in 2017, and converted the majority of its coal-powered plants to renewable biomass-powered plant. Ørsted was named the world’s most sustainable company at the World Economic Forum this year. The company was listed on Nasdaq Copenhagen in 2016, and the Danish state owns 50.1% of shares.

The company has three business segments; Offshore, Onshore and Markets & Bioenergy. The Offshore segment comprises Ørsted’s offshore wind portfolio, which consists of ~7 GW of producing projects and ~8 GW of sanctioned or awarded projects across Europe, US and Taiwan, making the company on track towards its goal of 15 GW net capacity by 2025. The Onshore segment comprises Ørsted’s onshore wind portfolio, which consists of producing, sanctioned and awarded projects with a capacity of 2.1 GW. The company has a target of 5 GW onshore capacity by 2025. The Markets & Biomass segment covers the trading activities and operations of the company's combined heat and power plants in Denmark.