EnergyWatch

Ørsted set to become central US player following large onshore wind acquisition

Ørsted's acquisition of US onshore wind developer Lincoln Clean Energy will improve the Danish utility's access to the US offshore wind market.

Photo: Ritzau Foto/Jens Dresling

With its purchase of Lincoln Clean Energy (LCE), Ørsted is partially banking on lucrative returns from a number of onshore wind projects in the US, both in the short and long term. But Ørsted is also, to a high degree, betting on the acquisition making it a more familiar company in the US with closer contacts to authorities, potential staff and clients.

"We view the acquisition of Lincoln Clean Energy as a unique opportunity for taking part in the value development in the US onshore wind energy market. With the Purchase, we have acquired a considerable portfolio, a large pipeline and a capable management. It is a healthy investment, also in regard to future growth opportunities," said Ørsted CEO Henrik Poulsen in a financial teleconference this morning, Thurday.

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