Ørsted admits risk of loss-generating projects

Ørsted’s current 11GW offshore wind portfolio will generate profit. Just not as much as previous ambitions stipulated, says CEO Mads Nipper.

Block Island is one of the offshore wind projects still generating value. | Photo: Michael Dwyer/ap/ritzau Scanpix

BY MAZ PLECHINGER, TRANSLATED BY SIMON ØST VEJBÆK

When Ørsted back in February issued green bonds, the company ended up with a fixed coupon rate of 4.125% until maturity on March 1, 2035. The issuance comes exactly two years after loan givers lined up for a similar loan at a coupon rate of 1.5%.

Already a subscriber?Log in here

Read the whole article

Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles

Receive our daily newsletters

Access our app

Get full access for you and your coworkers

Start a free company trial today

Ørsted threatens to shut down 2.8 offshore wind farm
For subscribers
Ørsted ready to temper offshore wind investments
For subscribers
Ørsted CEO pleased with the 2022 result, but not the earnings mix

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Renewables

Wind supplier feels the impact of Chinese sanctions: "We are heading down a dangerous road"

EU must introduce requirements for local production in the wind industry, says Jupiter Bach’s CEO. Otherwise, Europe will lose production and the knowledge needed to regain its footing.

EU imposes punitive tariffs on Chinese wind turbine towers

Danish wind supplier exceeds own expectations by far

For subscribers

Foto: Foto: Green Power Denmark / Thomas Steen Sørensen

Policy & Trading

Green Power Denmark: No single law can solve problems posed by China

For subscribers

Policy & Trading

Angry customer seeks to block Siemens Gamesa divestment with lawsuit

Renewables

Maersk Supply Service aims to quadruple profits

For subscribers

EnergyWatch.eu

Siemens Gamesa secures major offshore wind order in Germany

For subscribers

EnergyWatch.eu

RWE sees hydrogen pipe as crucial for future offshore wind in Denmark

For subscribers

Climate council calculations cast doubt on pyrolysis effect by 2030

Green Transition Denmark estimates that pyrolysis will only reduce greenhouse gas emissions after 2030. Associate professor criticizes calculations.

For subscribers

Vestas lands order for 81MW in Scotland

Inventergy has ordered 18 wind turbines from Vestas.

On June 1, Senvion's former CFO Manav Sharma started as US country manager for Nordex. Soon he will have a new factory at his disposal. | Foto: Senvion

Nordex restarts production in the US

A manufacturing presence in North America is crucial, says the CEO on the return to the US, where the aim is 2.5GW per year using both Germany’s largest turbine and an as yet unknown product.

For subscribers

Danish wind supplier exceeds own expectations by far

Under the new management, Jupiter Bach has transformed the business from huge losses to a profit. However, the chief executive admits that coincidence has played a significant part.

For subscribers

Norlys invests in growth after earnings plummet

Norlys Energy Trading is currently investing in growth, but competition for the best people has never been so intense, says the head of the energy trading company.

For subscribers

BP pauses offshore wind projects to focus on fossil fuels

The new CEO will focus more on oil and gas, according to Reuters.

For subscribers

Angry customer seeks to block Siemens Gamesa divestment with lawsuit

In the midst of an arbitration case with back-and-forth claims over a record-breaking turbine order, an Indian project developer now sues Siemens Energy to prevent the manufacturer’s departure.

Alexey Ustinov joined Siemens Energy last year as head of the hydrogen business from a similar position at Cummins in the US. | Foto: Cummins

Cleantech

Siemens Energy is ready for Chinese competition

The political trend towards marginalizing China is dangerous, says Siemens Energy’s hydrogen chief, who is confident about the German company’s abilities despite the much cheaper Chinese plants.

EnergyWatch.eu

Siemens Gamesa secures major offshore wind order in Germany

Iberdrola takes final investment decision on the third offshore wind farm in its Baltic cluster and awards orders worth over one billion euros.

For subscribers

Renewables

Wind supplier feels the impact of Chinese sanctions: "We are heading down a dangerous road"

EU must introduce requirements for local production in the wind industry, says Jupiter Bach’s CEO. Otherwise, Europe will lose production and the knowledge needed to regain its footing.

For subscribers

Oil & Gas