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Orsted Raises Earnings Forecast on Strong Offshore Wind Performance

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Orsted News

Offshore Wind,Renewable Energy,Wind Farms

Orsted, a Danish energy company, has raised its full-year earnings guidance due to strong performance from its offshore wind projects, particularly the Hornsea wind farms in the UK.

Orsted has hiked its full-year earnings guidance as the Danish group's offshore wind projects drove profits upward in the first nine months of the year. Full-year earnings before interest, taxation, depreciation and amortisation EBITDA is expected to come in at between DKK 24bn to 26bn 2.6bn to 2.9bn, narrowed from a prior forecast of 23bn to 26bn DKK. The Danish state-backed energy group said operating profit had risen from DKK 19.4bn to DKK 23.6bn compared with the prior year.

Orsted announced in September it had been awarded the contract, which also included 2,400 capacity at Hornsea 4, as part of Britain's most recent renewables auction. 'We have secured additional value-creating renewable growth opportunities in the UK with the 3.5 GW award for Hornsea 3 and 4, which is a significant contribution to rsted's long-term renewable capacity goals,' he said. Total earnings from Orsted's offshore sites amounted to DKK 15.3bn, an increase 2.

 

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