Orsted Energy began in 1972 as a Danish state-owned company called Dansk Naturgas A/S. The companies early life began managing oil and gas in the Danish sector of the North Sea. The company was later renamed Dansk Olie og Naturgas A/S (DONG) and expanded to the electricity sector in the early 2000s.
Also in the 2000s, the energy company acquired numerous electrical companies and gas fields, creating mergers of these companies. DONG Energy then had the ambition to change its focus from fossil fuels to green energy, to change from 85% fossil fuels to 85% green energy.
There were rough patches for DONG Energy, as in 2015 the energy company had a deficit of 12 billion DKK which was the largest of any Danish company ever. However, the following year DONG Energy was voted 11th in the Clean200 list.
One year later, DONG ENERGY phased-out their use of coal for power generation, selling off all oil and gas business for US$1.05 billion to Ineos. This led to the announcement of transitioning to renewable energy. DONG Energy would then change their name to Ørsted, named after Danish scientist Hans Christian Ørsted. Ørsted now has no oil or natural gas assets.
Orsted Energy Today
Orsted Energy is based in Denmark with shares listed on Nasdaq Copenhagen (Orsted). They currently employ more than 5,800 employees, with over 900 staff based in the UK.
Globally, Orsted Energy has built enough offshore wind, that they could power 9.5 million people. They aim to supply power to 30 million people by 2025 with offshore wind.
Orsted Energy is currently the largest power producer in Denmark and has a market share of 35% for heat production and 49% for electricity production. Ørsted is the sponsor of the Danish men’s national ice hockey team.
In 2019, Orsted Energy supplied more than 15 million people with renewable energy, with an ambition to supply renewable energy for 30 million people by 2025 and 55 million people by 2030.
Orsted Energy In The UK
Orsted Energy has 12 offshore wind farms in operation across the UK. They also offer energy storage solutions and have invested in a project to research the possibility of delivering renewable hydrogen.
Also, Orsted Energy built the worlds first bio plant which is a program that turns waste into energy. This will supply up to 9,500 UK home with energy. Their first plant is located in Northwich. They also supply green electricity to UK businesses.
Orsted Energy’s offshore wind farms in the UK can provide electricity for more than 3.2 million homes. They hope to create a sustainable energy future for the UK.
Why Are They Called Orsted Energy?
The name Orsted Energy comes from Hans Christian Ørsted who was a famous scientist and innovator from Denmark. He discovered electromagnetism in 1820 and created the foundations of how we create power today. Orsted Energy believes Hans Christian Ørsted held the qualities that can help to revolutionise the way they can power people.
Orsted Energy Map of Business
Orsted Energy is a global company, with operations in numerous countries under various sectors. These include:
|Nation||Area of Business|
|United Kingdom||Offshore wind|
Sales of energy
|United States||Offshore wind|
Solar (under construction) Storage (under construction)
|Denmark||Sales of energy|
Biomass-fired power plant
Fossil-fuelled power plant
|Sweden||Sales of energy|
|The Netherlands||Offshore wind|
Sales of energy
|South Korea||Offshore Wind|
Who is the CEO of Orsted Energy?
Mads Nipper became CEO of Orsted Energy in 2021.
Where are Orsted Energy Based In The UK?
Ørsted Power (UK) Ltd is based in London, England. The address is:
5 Howick Place
Where are Orsted Energy’s Headquarters?
Orsted Energy’s headquarters are based in Fredericia, Denmark. Their headquarters address is:
Kraftværksvej 53 – Skærbæk
Orsted Energy Products and Services
Orsted Energy has areas of business such as onshore and offshore wind, bioenergy markets, energy storage and solar energy.
With wind generation reaching millions of UK homes, Orsted offers competitive onshore wind solutions. Green, renewable electricity needs to be carried onshore from the offshore wind farms, then connected to the National Grid.
Orsted Energy had the world’s first offshore wind farm in 1991. They are now one of the global leaders in offshore wind power production. Since 2015, they have placed major contracts with almost 100 UK companies.
Rather than using coal, bioenergy is a solution to fighting climate change. Bioenergy solutions at Orsted Energy create reliable, and sustainable electricity through sustainably sourced wood chips and pellets for fuel saving on millions of tons of CO2 emissions annually.
Solar and Storage
Orsted Energy uses solar power to supply clean, renewable power to homes globally. Recently, their solar and storage portfolio has grown significantly. The demand for battery energy storage systems will grow in the UK as there is a bigger emphasis on a renewable future.
Renescience is a technology that Orsted Energy created. It is turning household waste into clean, green energy. Up to 84% of the average household’s waste can be recycled. Orsted plans to turn waste into something that can be re-used.
By using enzymes with anaerobic digestion, they can separate household waste into recyclables. It takes the organics from the waste then turning it into green energy. Renescience can supply energy for up to 9,500 UK homes and treats up to 120,000 tonnes of waste annually.
|Nation||Sales Per Region 2020 |
|% of Total|
Orsted Energy also offer services for small and large companies, with both electricity and gas products. Some of these include:
- Fixed price products
- Carbon neutral gas
- Flexible price product
- Smart meters
Orsted Energy offers trading services, with a team of traders that can work with businesses to create risk management strategies that are based on your businesses needs.
Orsted Energy Fuel Mix 2019/20
Orsted Energy’s fuel mix is 99.15% renewable. This is a lot higher in comparison to the UK’s average of 37.9%. Orsted Energy is trying to revolutionise how energy suppliers in the UK use energy with an investment of more than £10 billion to creating new offshore wind farms in the UK.
The table below shows Orsted Energy’s fuel mix with the UK average for comparison. The dates for the fuel mix is from 1 April 2019 to 31 March 2020.
|Fuel Type||Ørsted||Average for UK|
What Is Orsted Energy’s Carbon Emissions?
Orsted Energy has reduced its carbon emissions by 87% since 2006 and aim to be carbon neutral in both energy generation and operations by 2025. They have also reduced their power stations’ coal consumption by 73% since 2006.
Orsted Energy also decided to stop using coal by 2023. To replace coal, they will use sustainably sourced wood chips and wood pellets.
Below is a table stating Orsted Energy’s carbon emissions.
|Carbon dioxide emissions||1.680 CO2 g/KWh|
|Radioactive waste||0.0000594 g/KWh|
Orsted Energy Board of Directors and Key Staff
Group President and Chief Executive Officer (CEO)
Mads Nipper became CEO of Ørsted in 2021.
He was born in 1966 and has an MSc in International Business from the Aarhus School of Business, Denmark. Previous roles include vice president at Danish Crown, CEO of GRUNDFOS and board member at Bang & Olufsen.
Born in 1965, Marianne Wiinhold studied at the Copenhagen Business School. She joined Ørsted in 2004 and has been CFO since 2013. Other roles have included board member and head of the audit committee at companies such as Coloplast, Hempel A/S and Norsk Hydro.
Executive Vice President, CEO Onshore
Declan Flanagan became a part of the Ørsted team in 2018 and then became a member of the executive committee back in 2019. Previous roles include CEO of Airtricity North America, CEO of E.On Climate and Renewables North America and CEO of Lincoln Clean Energy.
Chief Commercial Officer (CCO), Deputy Group CEO
Born in 1973, Martin Neubert joined Ørsted back in 2008. He has been a chief commercial officer and deputy group CEO since 2021.
Martin has a master’s in economics and finance and has held numerous leadership roles at Ørsted.
Thomas Thune Andersen
Having become a member of the board of Ørsted in 2014, Thomas was reelected in 2021. Born in 1955, Thomas has extensive international managerial experience. His education includes Copenhagen Business School, Columbia University and Harvard Business School.
Lene Skole joined the board in 2015 and was reelected in 2021. Born in 1959, Lene has experienced managing listed companies, such as her previous position as CFO of Coloplast. Lene is also CEO of Lundbeckfonden.
Member of the board
Born in 1950, Lynda Armstrong became a member of the board in 2015. Lynda was also reelected in 2021. Lynda has previous global managerial experience, with over 30 years in leading positions. These include working at Shell, with a role as VP in Shell International.
Member of the board
Dieter Wemmer joined the board of Ørsted in 2018 and was reelected in 2021. Born in 1957, Dieter is experienced with investments, capital markets and risk management. His previous positions include CFO of Allianz and other roles in the finance sector.
Member of the board
Born in 1963, Jørgen Kildahl became a member of the board in 2018 and was also reelected in 2021. With an international background in renewable energy, Jørgen Kildahl
has previous roles such as EVP of Statkraft and member of the board of management of E.ON, increasing his knowledge of how the energy ecosystems work.
Who Are Orsted Energy’s Subsidiaries?
Orsted Energy has plenty of subsidiaries, the two largest being Ørsted US Offshore Wind and Lincoln Clean Energy, LLC. Some of the other subsidiaries include:
- Orsted Power (UK) Limited
- Ørsted Wind Power TW Holding A/S
- Orsted Sales (UK) Limited
- Ørsted Salg & Service A/S
- Ørsted Wind Power A/S
- Walney (UK) Offshore Windfarms Limited
- Orsted North America Inc.
- ConocoPhillips Petroleum International Corporation
- Walney Extension Limited
- Westermost Rough Limited
Ørsted US Offshore Wind
In 2018, Ørsted acquired 100% equity in Rhode Island-based Deepwater Wind. This came at $510 million. There became a merger of the two companies assets to create the leading US offshore wind platform. This resulted in the most comprehensive geographic coverage in the US. Deepwater Wind’s portfolio had a total potential capacity of approx. 3.3GW, allowing Ørsted to supply clean energy to all seven states on the US East Coast. There was a commitment to creating over 10GW total of offshore wind capacity by 2030
Lincoln Clean Energy, LLC
Also in 2018, Ørsted acquired Lincoln Clean Energy (LCE). LCE was a leading onshore developer, with the majority of assets in Texas. Since the acquisition, the operational portfolio has seen a rise over the past year, doubling to 1GW, with further goals of doubling again in 18 months. LCE changed their name to Ørsted, becoming part of the Ørsted organisation.
Ørsted Energy is listed on the Nasdaq Copenhagen stock exchange. In terms of shareholders, The Danish Government currently hold a majority stake in Ørsted shares with more than half (50.1%). Companies Capital Group Companies, SEAS-NVE and EuroPacific Growth Fund’s hold more than 5% of Orsted Energy shares. There is a political agreement in place that states the Danish Government will maintain a majority share in the company until 2025.
Orsted Energy Websites and Social Media
London Office Contacts:
5 Howick Place
Phone: +44 (0) 20 7811 5200
Phone: 0800 056 8101
Orsted Energy In Recent News
Orsted Energy recently ranked as the leading energy company in Corporate Knights’ 2021 index of the Global 100 most sustainable corporations in the world. They have opened up applications for their apprenticeship programme, which has led to 33 wind turbine technician apprentices being hired since 2017.
In 2019, 500 people applied and they took on a total of 11 wind turbine technician apprentices.
Orsted Energy Key Financial Data
Orsted Energy is a global leader in offshore wind and currently hold a 25 per cent market share. According to the Orsted Energy annual report in 2020, their operating profit (EBITDA) was DKK 18.1 billion. This was a 4 % increase in comparison to 2019 and earnings from onshore and offshore wind farms that are in operation rose by 14 % to DKK 16.9 billion.
|DKK million||Q4 2020||Q4 2019|
|Profit (loss) for the year from cont. operations||2,174||925|
|Profit (loss) for the year from discont. operations||15||(29)|
|Profit (loss) for the year||2,189||896|