The Admirable Work of Ørsted

In the late 2000s Ørsted was one of the most coal intensive power generators in Europe with an expanding oil and gas production business. However, the company underwent a green transformation in a decade and their business transformation is a story of technological innovation, steep learning curves and difficult strategic choices that have led to long-term gains.

The company invested heavily in renewable energy, particularly offshore wind; exited fossil fuel businesses, and formulated the vision of creating a world that runs entirely on green energy. Ørsted is now one of the largest renewable energy companies by capacity globally and the leading offshore wind company. They are among the world’s most sustainable energy companies, and a global leader in the transition to green energy. Financial performance has significantly improved whilst they reduced their carbon emissions by 86%. Becoming a green energy company has facilitated the globalisation of their business.

Sources:

https://orsted.com/en/who-we-are/our-purpose/our-green-energy-transformation

https://orsted.com/en/insights/white-papers/green-transformation-lessons-learned