Ørsted

Our offshore substation (OSS) has departed from Singapore, heading to Port of Taichung for the 920 MW Greater Changhua 2b and 4 offshore wind farms! 🚢     The jacket has already arrived, and the topside has sailed away this week. Collaborating with Singaporean supplier Seatrium, Hitachi Energy, and many other suppliers, we completed the structural work of the 3,260-tonne topside and the 3,137-tonne OSS jacket foundations in just 212 days, setting a new Ørsted record! Most importantly, our commitment to safety ensured everyone returned home safely, achieving 2.8 million man-hours of zero lost time injuries (LTI)!      This milestone was achieved thanks to the dedication and hard work of all our colleagues, in collaboration with our supplier, Seatrium. We look forward to the arrival of the OSS in Taiwan, ready for installation! 

2024 was a busy building year at Ørsted, with projects spanning three continents! Thanks to the dedication of our colleagues and partners, we're helping to build a more sustainable world and creating jobs in local communities. With the final investment decision on Baltica 2 Offshore Wind Farm, Poland, in January 2025, we currently have 9.1 GW of renewable capacity under construction. Dig into our annual report to learn more about our 2024 construction achievements: https://lnkd.in/df7YgwHY

We are here at E-world 2025 in Essen! ⚡    The leading trade fair for the energy industry E-world energy & water is in full swing, and we’re excited to connect with partners, innovators, and industry leaders.    📍 Visit our booth 5G112 (Hall 5) to learn how we’re shaping a world that runs entirely on green energy. Don’t miss our expert presentations on the future of renewables and energy solutions!   Let’s power the green transition together!  #Eworld25

Meet Graham – Helping build the future of offshore wind in APAC 🌏     Graham was drawn to working for Ørsted because of its industry leadership and its mission to accelerate the transition to green energy. He works as WTG (Wind Turbine Generator) Package QHSE Advisor, currently based in Taichung Port, Taiwan. Right now, he is working on the Greater Changhua 2b and 4 offshore wind farms, a 920 MW project that is a crucial part of Ørsted’s green energy expansion in the APAC region.   🗨️ “I support Ørsted’s WTG package management with HSE and quality aspects, ensuring our offshore wind farm projects operate efficiently and safely. My role involves direct interaction with subcontractors on all HSE aspects of building offshore wind farms. This ensures that projects run smoothly and that new ones can come to life.”   Having worked on projects in the USA, Germany, and Taiwan, Graham has deepened his knowledge of offshore wind and gained firsthand experience working in different markets. His work has challenged him to think more innovatively, given him the chance to collaborate with diverse teams, and reinforced his passion for sustainability and renewable energy.   And what is the most exciting aspect of his job? 🗨️“I love working with cutting-edge technology – seeing the complex challenges we face and how we overcome them. Watching everything come together is truly special. The sheer size and engineering behind offshore wind farms are often hard to comprehend.”   Thank you, Graham, for helping bring offshore wind projects to life – safely and efficiently!

Our full-year results and adjusted business plan have been released!   In 2024, our EBITDA excluding new partnerships and cancellation fees amounted to DKK 24.8 billion and is in line with our guidance. We expect to deliver an EBITDA of DKK 29-33 billion by 2026 and to achieve a return on capital employed of 13 % on average for the period 2024-2030.   In this video, our new CEO, Rasmus Errboe, walks you through the past year’s headlines and milestones and our adjusted business plan with a focused capital allocation to strengthen our capital structure and prioritise the most value-accretive growth opportunities.    “2024 was a challenging year for Ørsted, influenced by disappointing execution challenges in the US offshore wind portfolio. Despite this, colleagues and partners have worked tirelessly to move the delivery of our business plan forward – achieving significant and impressive results. We’ve commissioned key projects, adding a total of 2.4 GW of renewable capacity in 2024,” he says.   Rasmus also gives his perspective on the future of the renewable energy industry and his insights on the Ørsted portfolio looking ahead:   “l'd like to emphasise that we continue to believe in the long-term fundamentals of and value perspectives for renewable energy based on the expected doubling in the global electricity demand by 2050. We'll deliver on the execution of the 9 GW of renewable projects that we're currently constructing. Altogether, the construction portfolio will bring an expansion of renewable capacity from 18 GW to more than 27 GW.”

Celebrating historic milestone for Poland’s green energy future! Last week, during a press conference attended by Polish Prime Minister Donald Tusk, key Polish ministers, and the Danish Ambassador to Poland, we celebrated the final investment decision for Baltica 2 Offshore Wind Farm. The official signing of the commencement of the contract for the construction of the Baltica 2 project between Ørsted and PGE Polska Grupa Energetyczna is a key step in the development of Poland's renewable energy industry.   Rasmus Errboe, CEO of Ørsted, giving an interview to TVP World television, said: “Denmark has been the front runner for offshore wind. We started 30 years ago, so we have vast experience and learnings to share with our partner and that’s why the partnership between Ørsted and PGE, the largest energy utility in Poland makes so much sense”.   Baltica 2 will produce green electricity to meet the needs of approximately 2.4 million Polish households and deliver first power in 2027.

Ørsted’s Board of Directors has appointed Rasmus Errboe, current Deputy CEO and Chief Commercial Officer, as new Group President and CEO. He’ll replace Mads Nipper who will step down from his position as Group President and CEO of Ørsted on 1 February 2025. “Rasmus has a deep understanding of our business and an extensive knowledge of the energy industry. I’m therefore convinced that he is the right person to lead the company through the challenges facing the industry and Ørsted. Together with the Board of Directors, I look forward to collaborating with Rasmus on ensuring strong results for Ørsted,” says Lene Skole, Chair of Ørsted’s Board of Directors, who also thanks Mads Nipper for his commitment to Ørsted's vision and his strong and constructive collaboration with the board. In connection with his new role in Ørsted, Rasmus Errboe says: “I’m honoured and humbled to step into the role of CEO of a company I’ve proudly served for the past 13 years. Ørsted has a strong foundation with unique capabilities, and I’m looking forward to taking the lead on the transformation necessary to navigate the headwinds that Ørsted and our industry currently face. Offshore wind remains crucial for the green transition, and we’re deeply committed to pursuing our vision of a world that runs entirely on green energy.” Read more on our website: https://lnkd.in/dHg4KtV6 

Our strengthened path to net-zero in 2040 is now approved by the Science Based Targets initiative! We've set new 2030 climate targets to guide the actions needed to reach our 2040 target of net-zero emissions across our value chain – and these targets have now been formally approved by the Science Based Targets initiative (SBTi), assuring they’re aligned with climate science. Having already made great progress to reduce the direct emissions from our operations, we’re now focusing on reducing supply chain emissions across the most significant emissions sources. We’re already working closely with partners and suppliers to tackle emissions from the manufacture, installation, and operation of our projects across the world. Among others:  ☑️ Lower-emission heavy plate steel production with Dillinger.  ☑️ Using recycled glass fibres for wind turbines with Siemens Gamesa.  ☑️ Securing green fuels vessels for offshore wind operations with ESVAGT.  ☑️ Production of lower-emission steel for wind turbine towers with Vestas. See our newly approved 2030 targets and read more: https://lnkd.in/dnjJ_CCM

Big news from Poland.   In collaboration with our partner PGE Polska Grupa Energetyczna, we took final investment decision on the 1.5 GW Baltica 2 Offshore Wind Farm. Baltica 2 is a flagship project for offshore wind in Poland. It will lead the way for Poland’s transition to green energy, producing green electricity to meet the needs of approximately 2.5 million Polish households and deliver first power in 2027. “The development of offshore wind energy is a key element for Poland’s energy transition, which will strengthen the country’s energy security. We’re very proud that despite the macroeconomic challenges, we and our partner PGE have reached this important milestone by joining the competences of Poland’s largest electricity producer with Ørsted’s 30 years of experience as the global leader in offshore wind development” says Agata Staniewska-Bolesta, Managing Director of Ørsted Offshore Poland. Read more: https://lnkd.in/eFjcHQhz

We’re proud to hold our ranking as the world’s most sustainable energy company* – not just by building lots of green energy. Although we did that too.      In 2024, we ...   ✅ closed our last coal-fired power plant    ✅ launched our biodiversity measurement framework   ✅ delivered a workforce development programme   ✅ remained on track to meet our targets of 98 % reduction in scope 1-2 emissions and 99 % renewable share of energy production by the end of 2025.      And much more!       Sustainability isn't just the right thing to do – it’s a prerequisite for an accelerated build-out of renewable energy in line with global sustainability goals.      Watch the video to see more of what we were up to in 2024.       *Corporate Knights Global 100 Index 2025