Ørsted, Tepco Join Forces for Japan Offshore Push
Tokyo Electric Power Company Holdings (TEPCO) has signed a memorandum of understanding (MoU) with Danish energy business Orsted to work together on offshore wind projects.In a press release, TEPCO said that it had been “exploring offshore wind business opportunities” in both Japan and overseas. Orsted is a world leader in wind energy and built the world’s first offshore wind facility in 1991. Ørsted has constructed more than 25 offshore wind farms in Europe and has several large-scale offshore wind development projects in Europe…
Orsted's Offshore Wind Power Profits Breeze Ahead
Danish wind power giant Orsted sees surge in earnings from offshore wind, driving interim profits up 14 percent and earnings up 32 percent for the first nine months of 2018.The world’s largest wind farm operator, formerly known as Dong Energy said that the positive results are due to its transition to a 100 percent green power business and with its third quarter financial results revealing a surge in earnings from offshore wind and a jump in its green share of generation. "Our green share of generation increased from 59% to 71%…
Dong Energy Changes Name to Orsted
Following the profound strategic transformation from black to green energy and the recent divestment of the upstream oil and gas production, the name DONG Energy does not fit the company anymore. Consequently, DONG Energy has today called an Extraordinary General Meeting to ask the shareholders of the company to approve a change of the company name to Ørsted. Thomas Thune Andersen, Chairman of the Board of Directors, says: “DONG was originally short for Danish Oil and Natural Gas.
Maersk, DONG in Talks over $10 Bln Oil Merger
Denmark's A.P. Moller-Maersk and DONG Energy are in talks to merge their oil and gas operations in a deal that would create a business worth more than $10 billion including debt, sources familiar with the matter said. Maersk is working with Bank of America on the potential deal, while JP Morgan is assisting Dong Energy, said the people, who cautioned there is no certainty the parties would come to terms. Maersk said in September it planned to merge or spin-off its energy assets as part of a major restructuring and instead focus on its core transport and logistics businesses.
Offshore Wind to Compete with Fossil Fuels -DONG CEO
DONG Energy's Chief Executive Henrik Poulsen said renewable energy like wind will be produced at a lower cost in the future. "I have no doubt that costs of offshore wind and solar energy over time will come down and be at same level as fossil fuels," Poulsen said. "Our vision is that green energy will be cheaper than conventional energy. "Five years ago the price for producing one megawatt was about 160 euros. "It is our clear impression the green transition has a pretty strong momentum among.
DONG Energy Set for Europe's Biggest Share Float This Year
Danish wind farm developer DONG Energy, which analysts value as high as $13 billion, said on Thursday it plans to list its shares on the Copenhagen stock exchange this summer. Having built more than a quarter of the world's offshore wind farms, the company is a major player in Britain and Germany and has recently opened offices in the United States and Taiwan to cater for new growth markets. With a potential valuation as high as 85 billion Danish crowns (11.4 billion euros), Dong…
DONG Energy Appoints CEO for E&P
Søren Gath Hansen will step down as Group Executive Vice President and CEO for E&P. His successor is David B. Cook who comes from a position as Executive Officer and Head of Oil & Gas at the Abu Dhabi National Energy Company, TAQA. Søren Gath Hansen will continue in DONG Energy as head of the group's Quality, Health, Safety and Environment activities (QHSE). Søren Gath Hansen said, "I have worked for DONG Energy for more than 30 years and throughout the past 12 years I have had…
DONG Get Billions in Funding, Appoint New CFO
DONG Energy, a leading energy group with offshore interests in Northern Europe, announce that Goldman Sachs will subscribe for new shares for DKK 8 billion, ATP for DKK 2.2 billion and PFA for DKK 0.8 billion. Coincidentally, Carsten Krogsgaard Thomsen will step down as CFO after 11 years with DONG Energy. His successor will be Marianne Wiinholt, who comes from the position of Senior Vice President of DONG Energy's Customers & Markets division. Henrik Poulsen, DONG Energy’s CEO, says: “I would like to thank Carsten for the huge contribution he has made to the company over many years.
Offshore Wind Major, Dong Energy, Trims Sails, Ups H1 2013 Profit
Profit after tax was DKK 0.4 billion, down DKK 0.3 billion on the first half of 2012. First-half 2013 net investments amounted to DKK 3.2 billion against DKK 6.1 billion in the first half of 2012. As part of DONG Energy’s 2020 strategy, which was presented on 27 February of this year, a number of measures were initiated to streamline and improve the efficiency of structures and processes with a view to enhancing the company’s competitiveness. This work has now been completed and will result in a reduction of 350-400 jobs. The initiatives are expected to reduce costs by DKK 0.3 billion in 2014.
Dong Energy to Build Westermost Rough OWF
DONG Energy to build this offshore wind farm (OWF) located in the North Sea off the British east coast. The construction will represent a total investment of approximately EUR 1 billion including the construction of the transmission assets. When the wind farm goes into operation, the transmission assets will be sold to an offshore transmission operator, as required by UK regulation. Westermost Rough will consist of 35 turbines from Siemens Wind Power, each of 6.0 megawatt, with a total capacity of 210 megawatt. It will be able to supply CO2-free power corresponding to the annual power consumption of almost 210,000 British households.
Offshore Wind Majors Sign Turbine Test-bed Agreement
Dong Energy advances its involvement in Vestas’ prototype testing of the V164-8MW turbine in Østerild, Denmark. Dong Energy and Vestas Wind Systems have entered into a cooperation agreement on the testing of Vestas' V164-8.0 MW wind turbine at Test Centre Østerild in Denmark. Through this agreement, Dong Energy becomes involved earlier in Vestas´ development of the V164-8.0 MW offshore wind turbine than previously envisaged. This ensures Dong Energy a detailed understanding of and experience with Vestas’ new offshore wind turbine at an early stage. Vestas expects that the first turbine will be installed and commissioned at Test Centre Østerild during the second quarter of 2014.