24 Jan Investment Story: Orsted
Ørsted A/S (formerly DONG) is a Danish company operating since 1970 in the electricity generation industry. A decade ago, the Company divested its upstream oil and gas business and initiated its full transition from an oil and gas producer to a green energy company, establishing itself as the leading company in offshore wind.
Along with developing, building and operating offshore wind farms, Ørsted also develops and operates bioenergy plants, innovative waste-to-energy solutions and provides smart energy products to its power distribution and energy customers. Through its offshore wind division the Company is currently powering 9.5 million people across Europe, Asia and the US, aiming to achieve 30 million by 2025.
Over the last decade, the green transformation has reduced its coal consumption by 73%, halved CO2 emissions and saved an amount of energy equal to the annual power and heat consumption of 300,000 people. By 2023, Ørsted’s aim is to fully phase out coal, reduce CO2 emissions by 96% and consistently increase the number of wind power generation areas, which now stand at 2,358 locations.