Latest news with #Orsted
CNA
4 days ago
- Business
- CNA
Orsted favours investing more in Taiwan, South Korea over new markets in Asia, says exec
KUALA LUMPUR : Orsted, the world's biggest offshore wind developer, will increase investment in Taiwan and South Korea where it has already been awarded projects, instead of expanding to new markets in Asia, a senior company official told Reuters on Monday. Rising costs, supply chain disruptions and loss of investor confidence in offshore wind have resulted in the Danish company losing around 80 per cent of its market value from its 2021 peak. "I think our main focus is now to double down on the key markets that we have chosen to win in," Per Mejnert Kristensen, Orsted's Asia-Pacific president told Reuters on the sidelines of the Energy Asia 2025 conference. Orsted, the biggest offshore developer by capacity, withdrew its previously set 2030 target for installed renewable capacity of 35-38 gigawatts this year, and Chief Executive Rasmus Errboe faces the challenge of reviving investor confidence and meeting the new realities of the offshore wind industry. The company operates 10 gigawatts (GW) of offshore capacity globally, including 0.9 GW in Taiwan. It also has prospective projects in South Korea and Australia in various stages of development. "We know that we are in an environment that can change. We need to see clearly investable projects," Kristensen said, adding that he hoped other Asian countries emulate the Taiwan government's policies. "They have very good wind conditions for offshore wind. They have relatively shallow water, so you can put fixed bottom offshore wind parks in the ocean. And then on the political side, they had very early and clear ambition, and then they managed to make some offshore wind frameworks that made the projects investable," he said. As a result, international investors together with local partners in Taiwan could clearly see a pathway that would make it worthwhile to invest for the next 30-40-50 years, he said. "While the political ambition is there (in some other countries), it's not all places where they've managed to translate that into commercially viable frameworks," he said.
Reuters
4 days ago
- Business
- Reuters
Orsted favours investing more in Taiwan, South Korea over new markets in Asia, says exec
KUALA LUMPUR, June 16 (Reuters) - Orsted ( opens new tab, the world's biggest offshore wind developer, will increase investment in Taiwan and South Korea where it has already been awarded projects, instead of expanding to new markets in Asia, a senior company official told Reuters on Monday. Rising costs, supply chain disruptions and loss of investor confidence in offshore wind have resulted in the Danish company losing around 80% of its market value from its 2021 peak. "I think our main focus is now to double down on the key markets that we have chosen to win in," Per Mejnert Kristensen, Orsted's Asia-Pacific president told Reuters on the sidelines of the Energy Asia 2025 conference. Orsted, the biggest offshore developer by capacity, withdrew, opens new tab its previously set 2030 target for installed renewable capacity of 35-38 gigawatts this year, and Chief Executive Rasmus Errboe faces the challenge of reviving investor confidence and meeting the new realities of the offshore wind industry. The company operates 10 gigawatts (GW) of offshore capacity globally, including 0.9 GW in Taiwan. It also has prospective projects in South Korea and Australia in various stages of development. "We know that we are in an environment that can change. We need to see clearly investable projects," Kristensen said, adding that he hoped other Asian countries emulate the Taiwan government's policies. "They have very good wind conditions for offshore wind. They have relatively shallow water, so you can put fixed bottom offshore wind parks in the ocean. And then on the political side, they had very early and clear ambition, and then they managed to make some offshore wind frameworks that made the projects investable," he said. As a result, international investors together with local partners in Taiwan could clearly see a pathway that would make it worthwhile to invest for the next 30-40-50 years, he said. "While the political ambition is there (in some other countries), it's not all places where they've managed to translate that into commercially viable frameworks," he said.
Business Insider
11-06-2025
- Business
- Business Insider
Citi Sticks to Its Sell Rating for Orsted (DOGEF)
Citi analyst Jenny Ping maintained a Sell rating on Orsted (DOGEF – Research Report) today and set a price target of DKK211.00. The company's shares closed yesterday at $42.20. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Ping covers the Utilities sector, focusing on stocks such as Orsted, EDP Renovaveis, and Endesa SA. According to TipRanks, Ping has an average return of 10.1% and a 68.60% success rate on recommended stocks. The word on The Street in general, suggests a Hold analyst consensus rating for Orsted with a $44.63 average price target. DOGEF market cap is currently $17.15B and has a P/E ratio of 94.63.
Irish Independent
10-06-2025
- Business
- Irish Independent
Slew of Irish windfarms put up for sale by Denmark's Orsted
The entire 800MW platform, which also includes windfarms in the UK, Germany and Spain, could fetch as much as €2bn. Orsted's European onshore headquarters are based in Cork city, where it employs about 100 people. The group has invested €800m in Ireland across a portfolio of wind and solar projects. Of the 27 operational onshore windfarms that are up for sale by Orsted, 21 are in Ireland. They include windfarms across the country, stretching from Donegal to Kerry. The company is currently building a 50MW windfarm in Co Tipperary and has six projects in development. The planned sale of Orsted's onshore wind assets was first reported by industry publication PeakLoad. Orsted declined to comment. PeakLoad noted that BNP Paribas is advising on the proposed sale of the assets, dubbed Project Grace. Non-binding offers are slated to be submitted next month. The entire portfolio includes more than 600MW of power from windfarms, with up to 371MW being generated by the operational Irish units. The sale will also include windfarm sites under development. The Danish energy company also has a windfarm in Co Antrim that produces electricity for Amazon under a power-purchase agreement. In Ireland, Orsted also has a 50-50 joint venture with semi-state forestry company Coillte. The Coom Green Energy Park in Co Cork has an installed capacity of 105MW and is expected to be in commercial operation next year. Last December, Orsted and FuturEnergy Ireland – a joint venture between the ESB and Coillte, secured planning permission for the Ballinagree Wind Farm, which will be located between Millstreet and Macroom in Co Cork. With 16 turbines, it is expected to generate up to 112MW of electricity when it becomes operational around 2030. Last summer, Orsted started construction on its first Irish solar farm, an 81MW facility outside Carlow town. Last month it started construction on its second, a 55MW project in Co Cork. The company has a pipeline of 700MW of solar-farm projects in Ireland. Orsted has also partnered with the ESB to jointly develop offshore wind energy projects. Ireland is aiming to generate 80pc of its energy needs from renewable sources by 2030. Headquartered in Denmark, Orsted employs more than 8,000 people. The company is listed on the Nasdaq in New York, with a market capitalisation of $115bn (€100bn). Last year, Norway's Equinor bought an almost 10pc stake in Orsted, in what was a major move for the two companies. It made Equinor the second-largest shareholder in Orsted after the Danish state, which has a controlling interest in the firm. 'Equinor has a long-term perspective and will be a supportive owner in Orsted,' Equinor chief executive Anders Opedal said at the time. 'This is a counter-cyclical investment in a leading developer, and a premium portfolio of operating offshore wind assets,' he added. 'The exposure to producing assets complements Equinor's operated offshore wind portfolio of large projects under development.'
India Today
10-06-2025
- Science
- India Today
Ampere, the Paris professor who turned a needle's twitch into a new science
It was a quiet September afternoon in Paris, 1820, when news from Denmark's Copenhagen reached Andre-Marie Ampere in Paris where he was teaching at cole Polytechnique. Hans Christian Orsted, a Danish physicist, had made a strange observation during a lecture back in April: a magnetic needle shifted direction when placed near a wire carrying electric of just being impressed, Ampere lit up. He rushed back to his laboratory at the College de France, repeated the experiment with his own voltaic pile, and took note of deeper implicationsadvertisementWithin days, he was in front of the French Academy of Sciences, not only confirming Orsted's effect but showing something even bigger: electric currents could create not just magnetic fields, but movement. They could generate motion, forces, patterns -- an entirely new branch of physics. That lightning-rod moment became the heart of electrodynamics -- what we now call it wasn't a fluke. Ampere had spent years quietly battling personal loss, grief, isolation, and the aftermath of the French Revolution. The language of physics and mathematics had become his lifelines. (Photo: Wikimedia Commons) A LIFE SHAPED BY LOSS AND LEARNINGBorn on January 20, 1775, in Lyon, France, Ampere grew up in a home full of books. His father, a devout follower of philosopher and writer Jean-Jacques Rousseau, allowed him to learn was solving calculus problems in Latin by age 13. But tragedy shaped him -- his father was guillotined during the Reign of Terror, and later in life, he lost his wife losses haunted him. Yet, instead of folding inwards, he turned to science and faith for FORMAL SCHOOLING, BUT AN INSATIABLE MINDAmpere never attended a formal university as a student. He was largely self-taught, devouring mathematics, Latin, philosophy, and natural sciences from books in his father's library. (figures from the Memoirs on Electromagnetism and Electrodynamics) (Photos: Wikimedia Commons) Eventually, he secured a teaching post at the Collge de France and later became a professor at the cole Polytechnique in Paris, which is where he had his revolutionary BIG IDEA: CURRENTS CREATE FORCESIn 1820, building on Orsted's experiment, Ampere proposed that two parallel wires carrying electric currents attract or repel each other, depending on the direction of idea, now known as Ampere's force law, gave the world the first mathematical description of how electricity and magnetism are related. He didn't stop there. Ampere laid out an entire theory of electromagnetism, introducing concepts like the electric current loop and how it produces a magnetic field, which became the basis for modern electromagnet HE'S CALLED THE FATHER OF ELECTROMAGNETISMAmpere gave the science a structure. He even coined the term electrodynamics. His careful mathematical work paved the way for later scientists like James Clerk Maxwell to create a unified theory of his honour, the unit of electric current -- the Ampere -- bears his name. (Photo: Wikimedia Commons) AMPERE'S PERSONAL LIFEDespite his scientific genius, Andr-Marie Ampre's life outside the lab was marked by hardship and quiet resilience. Ampere married Julie Carron in 1799, and they had a son, Jean-Jacques just four years into their marriage, Julie died of tuberculosis in 1803, leaving Ampere death deeply affected him, and those close to him said he never fully recovered. Much like what happened when his father died, he turned inward, pouring himself into his research while raising their son modest man, Ampre avoided the spotlight and lived simply, even as his ideas lit up Europe's scientific community. He remained deeply religious all his life, often turning to faith during moments of grief and uncertainty. Ampere and his son are buried in Paris His son, Jean-Jacques, grew up to become a respected historian and literary scholar, and eventually became a member of the prestigious Acadmie Franaise, carrying forward the Ampere name in the world of letters, while his father had already immortalised it in DEATH AND LEGACYAndre-Marie Ampere died on June 10, 1836, in Marseille, France, while on a scientific inspection tour. He was he is buried in Paris's Montmartre Cemetery. His legacy? Every time an electric current flows -- from your phone charger to a massive power grid -- Ampere's equations are at work.
