Presentation

Ørsted is a renewable energy company and a global market leader in offshore wind with a ~20% market share. In addition, the company is growing its global footprint within onshore wind, solar and energy storage facilities, and aims to become a leader within green hydrogen. Ørsted is recognised as a global leader in the energy transition and was listed on Nasdaq Copenhagen in 2016 with the Danish state as a majority stakeholder (50.1%).

Ørsted pioneered the industry by commissioning the world’s first offshore wind farm, Vindeby, in 1991. The company was initially founded as Danish Olie og Naturgas (DONG) in 1972 to manage Denmark’s offshore hydrocarbon resources. In 2009, the company formulated its “85/15” target ratio, aiming to flip 85% fossil fuels and 15% renewables to 85% renewables and 15% fossil fuels within 30 years. Ørsted completed the transition in 2019, 21 years ahead of schedule. In 2017, the company sold its remaining oil and gas business and converted the majority of its coal-powered plants to biomass and subsequently changed its name to Ørsted.

Since then, the company has grown further and cemented its position as the leader in the industry. Further, Ørsted acquired Lincoln Clean Energy in 2018 which marked its entry in onshore renewables. Earlier this year, it expanded the onshore operations into Europe through the acquisition of Brookfield Renewables Ireland. Ørsted aims to be completely coal-free by 2023 and has a long-term renewable capacity target of 50 GW by 2030, divided between 30 GW Offshore, 17.5 GW Onshore and 2.5 GW within Bioenergy & Other.

Ørsted has received global recognition for its contribution to accelerate the global transition to green energy through several awards, including the world’s most sustainable energy company and one of TIME100 Most Influential Companies.