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May 06, 2020

Meet Ørsted – A finalist for the 2020 Transatlantic Company of the Year

In the last couple of weeks you have had the opportunity to meet our finalists for the 2020 Transatlantic Company of the Year, and last but not least – meet Ørsted!

Ten years ago, Ørsted was one of the highest fossil fuel users in Europe. Now, in 2020, Ørsted has been recognized as the world’s most sustainable company. Ørsted’s entrance into the U.S. market legitimized a fledgling offshore wind industry, and with awarded contracts up and down the East Coast, Ørsted is leading the way. Ørsted took its Danish roots, its world-class expertise, and its innovation in offshore wind development to the bullish U.S. market and strengthened the Danish-American partnership.

Growth
Ørsted’s growth over the past few years has made them the largest offshore wind developer in the U.S. Since entering the U.S. market only a few short years ago, when no projects existed, Ørsted now has 9+ major offshore wind projects up and down the East Coast, in various stages of development. All of these projects showcase the breadth of Ørsted’s expertise, and bring with them job creation and training; economic development, and investments in local communities.

Investment
Ørsted has made significant investments over the past several years to help bolster their portfolio as the world’s leader in offshore wind, as well as to set the stage to become a leader in onshore renewables. In 2018, Ørsted acquired Lincoln Clean Energy, an onshore developer of renewable energy. Since its acquisition, the onshore renewables division has made significant progress, and is anticipated to double in size every 12-15 months.

Recently, Ørsted announced the opening of its United States Innovation Hub in Providence, Rhode Island, which will leverage Ørsted’s expertise to identify, foster and finance enterprises related to offshore wind, with a focus on next-generation technology.

Innovation
Innovation is at the core of Ørsted’s business. Ørsted operates America’s first and only offshore wind farm, making Ørsted an innovator in the clean energy space. Ørsted has been awarded over 2,900MW in offshore wind contracts in the U.S., making Ørsted is the largest developer of offshore wind in the States. An example of Ørsted’s innovative nature in the U.S. is its partnership with General Electric to use GE’s Haliade-X 12MW turbines for two projects: Ocean Wind and Skipjack Wind Farm. Ørsted selected these turbines, which will be the first commercial deployment of 12MW turbines, because they are more efficient and will allow Ørsted to lower the number of turbines while creating an equal amount of power.

Partnerships
Ørsted prioritizes direct engagement and transparent communications with all stakeholders in the communities where they develop projects, and works to bring the benefits of offshore wind to the communities where they operate. Because of this dedication, they have many strategic partners in the U.S., including local universities, trade associations, and utility companies.

CSR/Sustainability
As one of the world’s largest green energy developers, Ørsted’s business model revolves around sustainability. Ørsted has reduced their carbon emissions by 86% since 2006 and was recently ranked the world’s most sustainable company by the Corporate Knights 2020 Global 100 Index. Additionally, Ørsted announced in February 2020 that it plans to be carbon neutral by 2025, which would make it the first major energy company in the world to reach that goal.

See the rest of the finalists here.

Watch the Ørsted finalist video here: