Ørsted denies acquisition is "defensive"

Major acquisition within European onshore wind does not entail decreased focus on offshore, asserts CEO Mads Nipper and indicates that the utility's investment target of EUR 27bn stands to be raised.

Photo: Gregers Tycho/ERH

It would be wrong to claim that Ørsted didn't get any wins this past year. Last March, the utility emerged victorious from a 13-year court case regarding market abuse on the Western Danish power market; October saw a CSR award given for the company's financials; and in December, the group won the right to call itself Ørsted after a battle with the descendants of Danish physicist Hans Christian Ørsted.

Meanwhile, victories in the core business have been fewer and farther between. A year and nine months have passed since Ørsted won its last offshore wind tender, with an allocation of 880 MW in New York's first tender in July of 2019.

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