Is Ørsted clinging to its underperforming power plants?

Ørsted's Danish power plants have lost major sums in recent years and appear to be everything but a future core business. It would make sense for CEO Henrik Poulsen to sell them, an analyst notes, but the question is whether they have any value and if selling them is even possible.

Photo: Mads Claus Rasmussen/Ritzau Scanpix 2017

"We don't have any active plans for going out and trying to sell the assets," said Ørsted CEO Henrik Poulsen during an investor presentation in April 2018, when he was directly asked by a Bloomberg analyst if the time was ripe to consider selling the energy company's power plants belonging to its subsidiary Bioenergy & Thermal Power, which, according to the analyst is not a part of the core business. 

Even though the first quarter of 2018 showed weak improvement within the division for domestic combined power and heating plants that Ørsted owns and operates across the country, these have all in all run at significant deficits throughout recent years.

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