EnergyWatch

Ørsted: Several underlying reasons for upgrade

The rapid completion of a German offshore wind farm and rising gas prices in Q3 were factors behind the company's forecast upgrade for 2018.

Photo: Ritzau Foto/Jens Dresling

German offshore wind farm Borkum Riffgrund 2 is expected to be complete within the coming weeks – one factor behind the Danish energy company Thursday upgrading its expectations for the whole of 2018.

"We had originally projected that the facility would be ready at the beginning of next year, but we now expect it to be complete within a few weeks' time. This means we will start to collect income from the wind farm sooner than our budget had taken into account," says Ørsted CEO Henrik Poulsen to Danish news agency Ritzau Finans.

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