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EnergyWatchFriday3 February 2023

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Foto: Gregers Tycho

Ørsted ready to temper offshore wind investments

Financial discipline is more important than ever before, says the utility’s CEO, who’s ready to invest more in solar power and onshore wind should the offshore variety prove too troublesome.
  • Ørsted CEO pleased with the 2022 result, but not the earnings mix
  • Ørsted suffers Q4 loss while booking strong full-year profit

For subscribers

Foto: Ørsted

Ørsted CEO pleased with the 2022 result, but not the earnings mix

Foto: Ørsted / Pr

Ørsted suffers Q4 loss while booking strong full-year profit

For subscribers

Foto: Gascade Pr

Big plans for European hydrogen pipeline network center around Danish island

For subscribers

Nuclear power station in the Belgian city of Tihange. | Foto: Johanna Geron/Reuters/Ritzau Scanpix

Belgium shuts down another nuclear reactor

For subscribers

Kristian Ruby, generalsekretær i Eurelectric. | Foto: Eurelectric

Eurelectric on EU market reform: "We need evolution – not revolution"

For subscribers

  • Foto: Alain Jocard

    France's nationalization of EDF paused

    The French state’s takeover of the utility has been postponed due to lawsuit filed by minority shareholders.

    For subscribers

  • Foto: RWE

    RWE doubles bottom line and exceeds guidance

    Preliminary figures indicate a doubling of RWE’s bottom line in 2022. Hydro/Biomass/Gas and Supply & Trading account for most of the earnings.

    For subscribers

  • Foto: Pr / Vattenfall

    Vattenfall exploring options for 2.8GW nuclear additions to Ringhals plant

    The Swedish utility has applied for permission to carry out preliminary studies of setting up small atomic reactors near nuclear plant Ringhals, however not entailing conventional, earlier generation fission facilities.

    For subscribers

  • Foto: Newscast/AP/Ritzau Scanpix

    National Grid's flexible demand campaign triumphs with major voluntary usage cut

    The UK’s electrical system operator has succeeded with its first real-life trial of the Demand Flexibility Service pilot operation, marking ”a major milestone in the evolution of consumer flexibility in the UK”.
  • Dall Energy CEO Jens Dall Bentzen. | Photo: PRDallEnergy | Foto: PRDallEnergy

    Dall Energy rolls into France with big gasification furnace order

    With its largest order to date in hand, the Danish biomass equipment supplier seems to have seriously emerged as a business comet and is now on the lookout for investors.

    For subscribers

  • Foto: Ørsted

    Ørsted takes biggest market valuation hit since 2020

    Investors have paid special heed to the full-year forecast and projections of EBITDA excluding new partnerships in the DKK 20-23bn range.
  • Foto: Gregers Tycho

    Nipper rejects capital raise despite higher costs

    Development expenses for offshore wind projects have piled up, potentially leading to earlier divestments than otherwise, although Ørsted’s CEO clarifies that any potential capital raise would, true to strategy, be spent on growth.

    For subscribers

  • Foto: Ørsted

    Ørsted deems impairment of Sunrise project a one-off

    The Danish utility rules out any major future impairments in the US offshore wind portfolio. ”If we had expected more impairments, we would have completed them now,” says CFO.

    For subscribers

  • Foto: Ørsted / Pr

    Divestment contributes to Ørsted's "highest EBITDA to date"

    According to preliminary figures, Ørsted is on track to report its highest EBITDA to date, aided by farm-downs, although the Danish utility also notes a hefty impairment on development project.

    For subscribers

  • Det er ikke den øgede afbrænding af kul, der sænker Ørsteds placeringen på bæredygtighedslisten. Det er øget konkurrence, mener selskabet. | Foto: Kim Frost

    Ørsted ejected from global top-ten list of sustainable companies

    Vestas is knocked down from first place in the Corporate Knights annual ranking of the world’s most sustainable businesses, while the Danish power company gets its worst score in five years – and not on account of coal.

    For subscribers

  • Foto: Ørsted

    Ørsted buys out partner from offshore wind project

    The Danish power company goes against its standard practice in acquiring a US partner’s quarter interest in a GW-scale project.
  • Foto: RWE Renewables

    Offshore wind rivals find unity for French tender

    RWE and TotalEnergies form a consortium seeking development rights offshore of Normandy, where allocations of up to 1.6GW are open to the lowest bidder.
  • Foto: VINCENT WEST/REUTERS / X07587

    Norwegian oil fund buys near half stake of Iberdrola portfolio

    The Spanish power company’s domestic wind and solar portfolio gets a new co-owner in the form of the Norwegian oil fund. Iberdrola maintains operatorship.
  • Foto: Ørsted / Pr

    Ørsted takes FID on group's largest solar project to date

    The Danish power company makes its final investment decision to develop a photovoltaic project named Mockingbird Solar Center in Texas.

    For subscribers

  • Foto: Ørsted / PR

    Ørsted gets approval for English grid-scale battery project

    Local planning authorities have unanimously greenlit the Danish power company’s plans to build a utility-scale lithium-ion battery system to store energy from offshore wind Hornsea 3.
  • Vindmøller bør blive i baggrunden, for intet har indikeret, at verden kan klare sig uden raffinerede kulbrinter, mener Mark. P. Mills. | Foto: Michael Sohn/AP/Ritzau Scanpix

    "The green energy transition is a delusion"

    Sufficient volumes of minerals are not being mined to enable climate change mitigation, and hydrogen will only make everything more expensive and lead to deindustrialization, says Mark P. Mills, senior fellow of a US right-wing think tank, adding that the world ought to completely abandon the notion of transforming.

    For subscribers

  • Foto: Ina Fassbender/AFP/Ritzau Scanpix/AFP / AFP

    Several board members depart Uniper following nationalization

    The transfer of Uniper ownership to the German state has prompted a string of resignations, with both the board chair and the head of operations stepping down.

    For subscribers

  • Foto: Statkraft / Ole Martin Wold

    Statkraft to invest big in more Norwegian onshore wind

    The utility is reportedly investing in an otherwise cancelled project in Norway’s southwest.

    For subscribers

  • Foto: Jens Dresling

    EU power market reform running on schedule

    Even though proposals to overhaul the European electricity market are not yet sent to hearing, the EU Commission is still planning to share its policy outline in March.

    For subscribers

  • Foto: Tokyo Gas

    Tokyo Gas reportedly close to billion-dollar acquisition of US company

    US natural gas producer Rockcliff Energy could soon end up in Japanese hands in a deal worth USD 4.6bn.

Latest news

  • French JV forms to ease hydrogen access along Europe's roads – 2 Feb
  • Belgium turned major net power exporter in 2022 – 2 Feb
  • Vestager: Uncertainties cling to subsidies' mitigation potential – 2 Feb
  • Innargi inks first international contract – 2 Feb
  • Ørsted ready to temper offshore wind investments – 2 Feb
  • Drilling rig company awarded with USD 392m deal for deepwater drillship – 2 Feb
  • Shell books record profit for 2022 – 2 Feb
  • Siemens Gamesa ups prices amid difficult quarter – 2 Feb
  • EU parliament agrees to mandatory performance standards – 2 Feb
  • New offshore partnership zeroes in on Norway – 2 Feb
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