Denmark’s largest power provider and wind project developer, Ørsted (formerly known as Dong Energy) has announced it will create a solar energy and storage unit, in order to complete its transition to clean energy.
In its 2017 financial report, the company, which has been active in the off-shore wind and biomass power business for several years, said it will make its utility business greener over the next years. “For instance, we have established a new unit to explore energy storage and solar PV projects, and we are also looking more closely at the market for onshore wind,” Ørsted stated.
Ørsted, which is aiming to become coal-free by 2023, offloaded all of its oil and gas businesses to Ineos for US$1.05 billion last year. Also in 2017, it saw its revenue reach 22.5 billion DKK ($3.7 billion), up 18% from 19.1 billion DKK a year earlier.
As for the company’s wind power unit, it aims to reach an offshore wind capacity of 7.45 GW by 2020. The unit is active in Denmark, Sweden, Germany, the U.K. and The Netherlands.
The company changed its name from Dong Energy to Ørsted last November, as a consequence of its strategic repositioning towards renewable energy. In terms of power production, Ørsted has a market share of around 49% in Denmark. The Danish government still holds a 51% stake in the company.
In cooperation with the Energy Storage Europe exhibition, to be held in Düsseldorf, Germany, this March 13 to 15, pv magazine has prepared an Energy Storage special publication. It will be distributed along with the February edition of pv magazine, and at the exhibition.