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    ORSTED   DK0060094928

ORSTED A/S

(ORSTED)
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Global Offshore Wind Capacity Increased 6.1GW in 2020, Boosted by China

09/09/2021 | 04:11am EDT

By Jaime Llinares Taboada

The world added 6.1 gigawatts to its offshore wind-power generation capacity last year, a report from the Global Wind Energy Council found.

Offshore wind growth in 2020 was led by China, which contributed to more than half of global capacity expansion during the year. Chinese waters are now home to 28.3% of the world's 35.3 gigawatts of offshore wind capacity, and the country ranks below only the U.K., which accounts for 28.9% of total capacity.

Despite the coronavirus pandemic, 2020 was the second-best year to date for offshore wind installations. Only 2019, with 6.2 gigawatts added, was better.

Excluding China, most of the offshore wind growth in 2020 took place in Europe. The Netherlands contributed with 1.5 gigawatts, Belgium installed 706 megawatts and the U.K. expanded its capacity by 483 megawatts.

The outlook for the next decade is promising. GWEC expects more than 235 gigawatts of new offshore wind capacity to be added over the next ten years globally, bringing total installations to 270 gigawatts.

"While those in the industry are bullish about offshore wind's capacity to innovate and deliver competitive costs, the unprecedented scale of deployment required over the next three decades will require political will as much as favorable economics and sustainable expansion of the industrial supply chain," GWEC said in the report.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

Corrections & Amplifications

This article was corrected at 1037 GMT because the original incorrectly said that growth was led by China in 2021 in the second paragraph. Offshore wind growth in 2020 was led by China.

(END) Dow Jones Newswires

09-09-21 0611ET

Stocks mentioned in the article
ChangeLast1st jan.
BP PLC 0.14% 361.95 Delayed Quote.41.86%
EQUINOR ASA -0.81% 231.8 Real-time Quote.61.23%
IBERDROLA, S.A. 2.68% 9.646 Delayed Quote.-19.71%
ORSTED A/S 1.48% 890 Delayed Quote.-29.47%
SIEMENS GAMESA RENEWABLE ENERGY, S.A. 2.80% 20.59 Delayed Quote.-39.47%
SSE PLC 0.16% 1588 Delayed Quote.5.70%
WTI 0.48% 82.825 Delayed Quote.72.25%
All news about ORSTED A/S
02:06pORSTED A/S : sells 50% of its German offshore wind farm Borkum Riffgrund 3
RE
12:34pORSTED A/S : Ørsted brings in Glennmont Partners as a 50% shareholder of Borkum Riffgrund ..
AQ
12:34pØrsted brings in Glennmont Partners as a 50% shareholder of Borkum Riffgrund 3 Offshore..
DJ
10/18Portugal's EDP to invest up to 13 bln stg in UK wind and solar by 2030
RE
10/15CORRECTION : Ørsted's Financial Calendar 2022
DJ
10/15CORRECTION : Ørsted's Financial Calendar 2022
EQ
10/15CORRECTION : Ørsted's Financial Calendar 2022
AQ
10/15ORSTED A/S : Ørsted's Financial Calendar 2022
AQ
10/15Ørsted's Financial Calendar 2022
DJ
10/15ORSTED A/S : Ørsted Joins ZE PAK to Bid on Seabed Leases in Polish Baltic Sea
MT
More news
Analyst Recommendations on ORSTED A/S
More recommendations
Financials
Sales 2021 55 901 M 8 740 M 8 740 M
Net income 2021 11 689 M 1 828 M 1 828 M
Net Debt 2021 22 710 M 3 551 M 3 551 M
P/E ratio 2021 32,0x
Yield 2021 1,41%
Capitalization 374 B 58 495 M 58 466 M
EV / Sales 2021 7,10x
EV / Sales 2022 7,05x
Nbr of Employees 6 472
Free-Float 44,8%
Chart ORSTED A/S
Duration : Period :
Orsted A/S Technical Analysis Chart | ORSTED | DK0060094928 | MarketScreener
Technical analysis trends ORSTED A/S
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Last Close Price 877,00 DKK
Average target price 1 001,25 DKK
Spread / Average Target 14,2%
EPS Revisions
Managers and Directors
Mads Nipper Group President & Chief Executive Officer
Marianne Wiinholt Chief Financial Officer
Thomas Thune Andersen Chairman
Richard Hunter Chief Operating Officer
Lene Skole-Sørensen Deputy Chairman
Sector and Competitors
1st jan.Capi. (M$)
ORSTED A/S-29.47%57 472
NEXTERA ENERGY4.98%158 883
ENEL S.P.A.-16.55%81 431
DUKE ENERGY CORPORATION9.60%76 826
IBERDROLA, S.A.-19.71%67 314
SOUTHERN COMPANY2.77%66 124