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    Ørsted raises 2020-2027 outlook, keeps 50 GW target by 2030

    June 8, 2023 - SeeNews Renewables


      June 8 (Renewables Now) - Ørsted A/S (CPH:ORSTED) has increased its financial targets until 2027 that were set two years ago as the Danish clean energy group has made strong progress and considers itself well positioned to benefit from the expected market growth.

      The company said on Wednesday evening ahead of its Capital Markets Day that it now projects an average ROCE of about 15% for the period 2020-2027, up from the 11%-12 % range that was set in 2021. The forecast for the EBITDA from offshore and onshore assets in operation was also raised to 15% CAGR from around 12%.

      The group-wide EBITDA, excluding new partnerships, is seen in the range of DKK 50 billion-55 billion in 2030, which implies a targeted annual average increase of 13% -14 %.

      The previous expectation for gross investment of around DKK 350 billion in 2020-2027 was revised to DKK 380 billion (USD 54.7bn/EUR 51bn).

      Ørsted maintained its target for 50 GW of installed renewable capacity by 2030 which will be supported by DKK 475 billion in investments in the period 2023-2030.

      The group noted that it has a portfolio of 15.5 GW of renewable energy assets in operation, while 4.9 GW are under construction. Its renewable project pipeline totals about 114 GW.


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