24/04/2023at 12:34

Ørsted commits to major US investment

The Danish utility ups the ante in state of Maryland’s future offshore wind venture.

Ørsted has confirmed plans to invest USD 14m in Tradepoint Atlantic. | Photo: Ørsted

BY ANNE FILBERT, TRANSLATED BY SIMON ØST VEJBÆK

Following plans to establish 8.5GW offshore wind by 2031, US state of Maryland looks to deepen its local foundation. To that end, Ørsted confirms plans to commit yet another USD 14m, bringing its total investment to USD 30m, reports Renews.

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 admits risk of loss-generating projects
For subscribers
Ørsted wins surprisingly big in the US
For subscribers
Ørsted and partners win floating offshore wind lease in Scotland
For subscribers

Sign up for our newsletter

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

Front page now

On Monday, National Grid ESO spent GBP 9.4m on balancing power grid. | Foto: National Grid

Policy & Trading

Too much solar and win power proved costly for UK operator

On Monday, UK produced too much electricity without being able to turn off nuclear and gas supplies. Intervention was needed to handle system inertia.

For subscribers

Oil & Gas

Danish oil refinery posts major profit and augurs several large investments

For subscribers

Ørsted becomes a 50/50 partner in a pipeline of offshore wind development projects off the Irish coast. | Foto: Ørsted

Renewables

Ørsted signs partnership on Irish offshore wind projects

Oil & Gas

Equinor postpones oil project up to three years

For subscribers

As part of the deal, Inopower management team will stay on and will remain significant minority investors post completion. | Foto: Inopower/ Pr

Cleantech

UK equity fund buys Danish e-boiler company

For subscribers

Fortum has signed yet another agreement as part of the company's two-years running nuclear power program. | Foto: Fortum

Utilities

Fortum strikes deal with Korean nuclear operator

For subscribers

Too much solar and win power proved costly for UK operator

On Monday, UK produced too much electricity without being able to turn off nuclear and gas supplies. Intervention was needed to handle system inertia.

For subscribers

Renewables

Semco Maritime buys German wind service operator

With the acquisition, Semco Maritime sets out to create a ”true powerhouse” within offshore wind services.

For subscribers

Oil & Gas

Danish oil refinery posts major profit and augurs several large investments

Towering oil prices and maximum operational capacity have turned last year’s bleeding red figures into a major profit. The money is earmarked several large investments, says CEO.

For subscribers