Ørsted. Already bruised by its experiences in US offshore, is pulling out of several markets.

Under an extensive review of its project portfolio the company has taken actions to ‘reduce risks’, meaning that as well as ceasing the development of the offshore wind projects Ocean Wind 1 and Ocean Wind 2 in the form that they were awarded by the New Jersey Board of Public Utilities, the company has decided to reposition the offshore wind project Skipjack Wind in the US, and will primarily focus its US offshore portfolio towards the North-East Atlantic.

Outside the US, Ørsted is exiting several offshore markets, including Norway, Spain, and Portugal, deprioritising development activities in Japan, and planning for a leaner development within floating offshore wind and P2X.

Mads Nipper, Group President and CEO of Ørsted, said: “We have prioritised projects within our portfolio and are implementing significant changes in our business, including revising our operating model to reduce risks. We now present a robust business plan, and with an uncompromising focus on value creation, we plan to more than double our current installed capacity of renewable energy by 2030.”

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