Ørsted AS

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Ørsted is the largest energy company in Denmark, with sales distributed across UK: 49.3%; Denmark: 23%; Germany: 18%; Netherlands: 7.9%; Other: 1.8%. In 2017, the company decided to phase out the use of coal for power generation, and sold its upstream oil and gas business to Ineos.[1]
In Oct.2017, the company announced its change of name from DONG (Dansk Olie og Naturgas A/S) to Ørsted, in honour of the Danish scientist Hans Christian Ørsted, who discovered electromagnetism in 1820.[2]

Ørsted operates through the following business sectors:

  • 60.1%: Transportation and distribution of electricity and gas: electricity (35.3 TWh sold in 2018) and gas (134.1 TWh). Furthermore, the group is developing its activity in the transportation of petroleum;
  • 30.7%: Production of wind power: 10 TWh produced in 2018. At the end of 2018, the group possessed 23 wind farms with an installed capacity of 5.6 GW.
  • 9.2%: Production of bioenergy and thermal energy.

Company

Shareholders

Total float: 40.2%
Source: MarketScreener.svg, Mar.2020

Structure

ToDo:
  • Orsted Thermal Power A/S
  • ... ...
    • Orsted SP Holding (UK) Ltd, was Severn Power Holdings Ltd, CH
Orsted SP Holdings (UK) Ltd, CH, Bloomberg, Sites, Investors, About, Energy

Windfarms (UK)

Orsted Wind Farms (good map)

Walney Extension

Ownership: Ørsted 50%, SSE 25%, PGGM 25%

  • Sept.06.2018: World's largest offshore windfarm opens off Cumbrian coast. Walney Extension will power 590,000 homes. The world’s biggest offshore windfarm has officially opened in the Irish Sea. Walney Extension, off the Cumbrian coast, spans an area the size of 20,000 football pitches and has a capacity of 659 megawatts, enough to power the equivalent of 590,000 homes. Adam Vaughan, The Guardian.

Hornsea One

1,200MW, off the Yorkshire coast. link

Ownership
  • 50%: Flag-USA.svg GIP III Jupiter Ltd, CH, owned by GIM Participation Fund Holding GP Ltd, OC, reg. Guernsey Flag-Guernsey.svg
  • 50%: Flag-Denmark.svg Orsted Hornsea 1 Holdings Ltd, CH, owned by Orsted A/S, reg. Denmark Flag-Denmark.svg
    • Hornsea 1 Holdings Ltd, CH
      • Hornsea 1 Ltd, CH
  • Feb.11.2019: Biggest offshore windfarm to start UK supply this week. High hopes for Hornsea One as developer says its output could fill the gap left by nuclear. An offshore windfarm on the Yorkshire coast that will dwarf the world’s largest when completed is to supply its first power to the UK electricity grid this week. Danish developer Ørsted, which will be installing the first of 174 turbines at Hornsea One, said it was ready to step up its plans and fill the gap left by failed nuclear power schemes. The size of the project takes the burgeoning offshore wind power sector to a new scale, on a par with conventional fossil fuel-fired power stations. The power station is only the first of four planned in the area, with a green light and subsidies already awarded to a second stage due for completion in the early 2020s. Ørsted’s CEO said the UK has a great wind resource and shallow enough seabed to exploit it, and could even “power most of Europe if it [the UK] went to the extreme with offshore. The UK and Germany installed 85% of new offshore wind power capacity in the EU last year Adam Vaughan, The Guardian.

Hornsea Two

In the pipeline, 1,800MW, off the Yorkshire coast. link

Hornsea Three

May.2018: application submitted to the Planning Inspectorate. link

London Array

Ownership
ToDo: link
  • Jul.04.2013: World's largest offshore windfarm opens in Thames estuary. David Cameron hails 'great day for Britain' at opening of London Array, which will power 470,000 homes. With enough capacity to power two-thirds of the homes in Kent, the set of 175 turbines rising out of the Thames estuary officially became the largest offshore windfarm. Jessica Shankleman, The Guardian.

Timeline

  • Mar.2009:
    Carron-Energy-Severn-Power.svgDeals-Arrow-Left.svg
    Severn Power Ltd: DONG Energy acquired the power station project, along with the engineering business Carron Engineering & Construction from Welsh Power Group Ltd.ref,ref

  • Oct.2017: DONG Energy becomes Ørsted, with a new visual identity.ref
  • 2006: Formed as Dong Energy following the merger of 6 Danish energy companies. Since formation, the company has divested its black energy operations, and established itself as a global leader in offshore wind with a 25% market share. In the UK, there are 9 operational offshore wind farms, plus a bio plant called Renescience, a first of its kind waste-to-energy solution that will provide energy for up to 110,000 homes. Also offers green electricity to businesses. ref

Articles

Renewable-Energy-Wind-Hydrogen.svg
  • Aug.24.2020: Ørsted backs Danish offshore wind-powered hydrogen project. Ørsted, the largest offshore wind farm company in the world, has teamed up with five other Danish multinationals to develop a new large-scale green hydrogen project. the facility will exclusively target ships, trucks, buses, and airplanes in an aim to decarbonise the transport sector and align with the goals of the Paris Agreement. Zak Derler, We Mean Business, Climate Home News.
  • Oct.09.2018: Wind farm developer Orsted buys US rival Deepwater. Orsted, formerly known as Dong Energy, said that it had agreed to buy rival Deepwater Wind from the investment firm DE Shaw to create by far the biggest offshore wind developer in US waters with a combined 8.8-gigawatt pipeline of projects. Deepwater Wind, based in Rhode Island, owns American’s first ever offshore wind farm, the tiny five-turbine, 30-megawatt Block Island project that started in December 2016. Crucially, it has also secured or is close to securing subsidy or finance contracts to support the construction of three much bigger offshore wind farms with a combined capacity of 810 megawatts. Orsted is yet to secure any such contracts in the United States. The US has been much slower than Europe to explore offshore wind but east coast states are now planning a significant expansion with plans for more than 10 gigawatts of capacity by 2030. Emily Godsen, The Times.

References