EnergyWatch

Ørsted says onshore wind is "at least as profitable" as offshore

The two variants of wind energy technology will henceforth be in competition for the billions of euros Ørsted will invest over the coming years. The energy company denies lacking ambition within offshore wind, even though its market share is expected to receed.

Photo: Ritzau Foto/Jens Dresling

Ørsted is the irrefutable major power within offshore wind energy. During the company's capital markets day, this message was visualized in several ways such as bar graphs showing how the portfolio of current and forthcoming projects is larger than the company's four closest competitors combined, and this goal will be raised from 11-12 GW to 15 GW in offshore wind capacity in 25 – and then to more than 30 GW in 2030.

The latter figure is, though, technology neutral, which also encompasses the company's biomass power plants and coming waste-to-energy Renescience facility. However, the company will also be investing to an equal degree in onshore wind in particular. After five years absence, the technology was rehabilitated earlier this year with Ørsted's purchase of US-based Lincoln Clean Energy for a price of USD 580 million.

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