The CEO of Orsted, the world’s largest offshore wind developer, has said that his company is working to establish “a scalable commercial model” for solar PV and energy storage, viewing both as potential drivers of long-term growth.
Danish power company Orsted, formerly known as DONG Energy until a rebrand and restructuring last year that also included selling off its oil and gas businesses, has just reported its latest quarterly financial results, including reporting for the full 2017 year.
For 2017, the group saw DKK22.5 billion (US$3.77 billion) operating profit, an increase of 18% from the year before. This included a 74% rise in profits from its wind business. The company made an overall net profit of DKK13.3 billion (US$2.23 billion), an increase of more than DKK1 billion from 2016.
The report and accompanying statements from the company and CEO Henrik Poulsen reiterated Orsted’s commitment to a transition to a low carbon, green and sustainable energy system repeatedly. The company is aiming to go coal-free by 2023 and also to source 95% of its heat and power generation from renewables by that time.
“Our strategy is based on the vision of an integrated green energy system, where renewable energy technologies can be combined with each other and with energy storage solutions, more flexible and intelligent patterns of consumption and electrification of the transport sector, heating systems and industry,” Poulsen said.
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