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Ørsted submits Long Island Wind proposal to NYSERDA

Global, News

Danish energy company Ørsted has submitted a proposal for the Long Island Wind project to the New York State Energy Research and Development Authority (NYSERDA).  The project is designed to generate over 1.4GW of offshore wind energy, supplying renewable power to one million homes in New York, and is expected to begin commercial operations by 2033. Long Island Wind is a key component of Ørsted’s Northeast Hub, supporting the region’s clean energy transition. The project…

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Equinor acquires 9.8% stake in Ørsted, becoming second-largest shareholder

Global, News

Norwegian energy giant Equinor has acquired a 9.8% stake in Danish renewable energy company Ørsted, valued at $2.5 billion. This transaction, involving 41,197,344 shares, makes Equinor Ørsted’s second-largest shareholder. Equinor plans to increase its stake to 10%, pending regulatory approvals but does not intend to grow the stake further. Ørsted, with a renewable generation capacity of 10.4GW, is developing offshore wind projects totalling 7GW and aims to achieve a capacity of 35-38GW by 2030. Equinor…

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Ørsted, MT Group to build carbon capture and storage facility in Denmark

Global, News

Energy company Ørsted has partnered with MT Group to develop a carbon capture and storage (CCS) facility at the Ørsted Kalundborg CO₂ Hub in Denmark. MT Group will install balance of plant piping, integrate it with an existing woodchip-fired boiler plant, and test the piping’s design for the new CCS facility. This project is part of Ørsted’s 20-year agreement with the Danish Energy Agency (DEA) to capture and store 430,000 tonnes of CO₂ annually from…

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Voltalia secures contract for 128 MW solar project in Ireland from Ørsted

Global, News

Voltalia has been awarded a contract by Ørsted to manage the engineering, procurement, and construction of a 128 MW solar power facility located in County Carlow, Ireland. This new project strengthens Voltalia’s presence in Ireland, bringing the company’s total built or under-construction capacity in the country to over 540 MW. In 2023, Voltalia secured significant projects, including the 108 MW Timahoe North solar farm with ESB and Bord na Móna, and four additional photovoltaic projects…

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Ørsted to shut down final coal-fired plant in Denmark

Global, News

Ørsted has announced the closure of its last coal-fired heat and power plant in Esbjerg, Denmark, on August 31, 2024. This marks a major step towards making Ørsted’s energy generation nearly fossil fuel-free. Once known as one of Europe’s most coal-intensive energy companies, Ørsted has drastically reduced its reliance on coal, achieving a 92% reduction in scope 1 and 2 emissions from 2006 to 2023. The shutdown of the Esbjerg plant, along with the previously…

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Ørsted cancels FlagshipOne hydrogen project despite strong H1 2024 results

Global, News

Danish renewable energy producer Ørsted has announced the cancellation of its FlagshipOne green hydrogen-to-methanol project, despite reporting increased operating profits for the first half (H1) of 2024. Operating profit for Ørsted reached DKr14.1 billion in H1 2024, up from DKr10.2 billion in the same period of 2023. The company’s interim report, released on 15 August, highlighted growth in earnings from offshore facilities and the commissioning of 2 gigawatts (GW) of renewable energy capacity. Group President…

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Ørsted partners with Mission Clean Energy for 1 GW battery storage projects in US Midwest

Global, News

Danish energy company Ørsted has teamed up with Mission Clean Energy to develop four standalone battery energy storage systems with a total capacity of 1 GW across the US Midwest. This collaboration represents Ørsted’s first venture into standalone battery storage in the US and globally, further diversifying its renewable energy portfolio. Ørsted will invest in securing priority positions in the interconnection queue for these storage projects, while Mission Clean Energy will lead the development efforts….

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Poseidon to deliver cable services for Greater Changhua wind farms in Taiwan

Global, News

Poseidon Cables has secured a contract with NCT Offshore to provide cable pre-rigging and pull-in services for the Greater Changhua 2b and 4 offshore wind farms in Taiwan. Located 35-60km offshore Changhua County, the project will become Taiwan’s largest wind power complex, generating electricity to supply one million households annually. Poseidon Cables’ role involves preparing and pulling in inter-array cables, a critical step toward operationalizing wind farms. This contract underscores Poseidon Cables’ standing as a…

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European clean energy stocks fall amid Trump’s victory and policy concerns

Global, News

European clean energy stocks declined sharply following Donald Trump’s US presidential election victory, triggering investor concerns over potential setbacks in US renewable energy support and climate policy.  Trump has signaled intentions to halt offshore wind projects and undo several climate regulations established by Joe Biden, including the Paris Agreement and the Inflation Reduction Act’s clean energy incentives. Following the election, shares of offshore wind developer Ørsted fell by up to 14%, while wind turbine makers…

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UK secures £24bn in green energy investments

Global, News

The UK government has secured over £24 billion ($31.39 billion) in private investments for innovative energy projects ahead of the International Investment Summit on 14 October 2024. These investments are expected to create thousands of jobs and drive growth in the UK’s clean energy sector, spanning from Yorkshire to Suffolk, Aberdeen, and Stow. Key companies involved include Iberdrola, Ørsted, SeAh Wind, Macquarie, BW Group, and Holtec, with substantial commitments to renewable energy projects. Iberdrola’s subsidiary…