Ørsted will not be pressured into making deleterious bids

Even though Ørsted has not yet succeeded in winning any of its bids for US offshore wind projects, the CEO refrains from underbidding.

Photo: Ørsted PR

The US offshore wind market should not head into a downward spiral before the first turbines are installed at sea. So says Ørsted CEO Henrik Poulsen in the wake of losing to Copenhagen Infrastructure Partners and Avangrid earlier this year.

Ørsted was the only project developer to leave the tender empty handed. It later surfaced that CIP and Avangrid won the auction through having entered 20-year power purchase agreements with a series of grid distributors, with the price being set at USD 64.97 per MWh in levelized net present dollar value in 2017.

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