The Danish power company wants to concentrate on climate change mitigation, the OEM’s chair says in response to the Liberal Party’s election campaign idea to privatize some of the business.
With the nation now in election mode, the Danish Liberal Party proposes divesting state interest in the utility’s offshore wind business to finance green transition investments of DKK 60bn. How such a sale would be executed remains unclear.
The German utility has proposed a 1.5GW project for a location in the Baltic Sea.
Amidst intensifying discord and debate on how to tackle Europe’s high gas prices, the EU Commission presents a plan for the union’s heads of state and government to discuss.
Several concerns abounded prompting the Commission to refrain from suggesting a price cap on traders dealing renewable energy – central caveats being disincentive risk, and ”that market liquidity would fall significantly,” says EU source.
After 15 years at the utility, CCO and Deputy CEO Martin Neubert is stepping down from Ørsted. ”Now I’ll have to turn my focus and time towards exploring new, exciting challenges,” says the departing executive.
Quite atypically, the Danish market leader publicly rejects to bid in Taiwan’s solicitation for 3GW offshore wind due to poor framework conditions. The green transformation will wilt if developers build uneconomic projects, says CEO.
The Danish power company shakes up its organization once again, now parting ways with offshore wind chief of many years, while also moving other profiles up the corporate ladder.
German utility RWE now ranks as the fourth biggest renewables player in the US market after takeover of US company’s green portfolio.
The nation has received permission to earmark a huge sum to reopen five essentially decommissioned coal-fired power plants.
Three machine manufacturers in northern Denmark merged this weekend into a single company, Sterke, in a move intended to gather competencies to serve the wind industry, both at home and abroad, says new director.
The Danish authorities have ordered Ørsted to continue operations of one coal-fired power plant and resume operations of two others until 2024. The utility maintains aim of CO2 neutrality in 2025.
At the time of deciding upon the sale, the sales price came to GBP 3bn.
Watch Media’s latest Norwegian launch now goes online providing close coverage of energy affairs, companies, and profiles within the domestic sector.
The Finnish company will help optimize Grand Cayman’s energy system by installing storage facilities.
Initially, Ørsted and Energy Dome will run feasibility studies of a 20MW/200MWh battery, but the MoU contains an option for developing additional batteries, the first of which could be completed in 2024.
German utility RWE has inked a deal with oil company in the United Arab Emirates for offtake of gas starting in December.
Surging electricity prices are eating away at Ørsted’s equity, which could go into negative territory during the third quarter of 2022.
The EU Commission’s proposal, up for vote among the union’s energy ministers on Sept. 30, has made its through national machinery and is now turning into a patchwork quilt of regulatory exemptions.
While voicing support for the proposed EU levy, the Danish utility claims that 90% of its earnings stem from fixed price deals at prices below going rates.
The Finnish utility is now selling its interest in crisis-stricken Uniper to the German state, which will try to save the German power company by raising around EUR 8bn in capital via an equity emission.
The Norwegian utility has sold offtake from a forthcoming onshore wind farm of 97MW in Finland.
The EU Commission now proposes a concrete price ceiling on electricity generated by sources like wind and solar, while also ensuring achievement of Europe’s climate commitments.
By spring next year, overhaul details for Europe’s electricity market will likely be announced. The market will be reformed to accommodate ”current challenges”, EU Commissioner for Energy Kadri Simpson tells EnergyWatch.
The Swedish utility acknowledges the importance of supporting vulnerable consumers, but nevertheless argues that the EU Commission’s proposal will pose a risk for investments in renewables.
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