Orsted has been cut off from Gazprom gas supply
Orsted optimistic despite rocky Q2
Net loss on Gazprom contract has eaten into the Danish company’s quarterly profits, but it still expects an increase in full-year earnings amid renewables success
Danish energy company Orsted has raised its full-year guidance excluding new partnerships by DKK1bn ($139mn), despite its Q2 operating profits falling by 56pc year-on-year, to DKK3.6bn, as it expects further expansion of its renewables business. Offshore wind saw a particularly strong performance, with a 94pc increase in revenue to DKK17.3bn, as a result of higher windspeeds than the previous year. Similarly, Orsted doubled its onshore wind power generation due to a combination of higher windspeeds, the acquisition of assets from Brookfield Renewable Ireland and the commissioning of new US wind and solar capacity. “In general, we have seen positive market development during the first half of
Also in this section
28 March 2025
The massive expansion of the Northern Lights project in Norway is the clearest sign yet that the European oil and gas companies mean business when it comes to CCS
27 March 2025
Awards celebrate global innovation, leadership and achievement across the energy sector’s people, projects, technologies and companies.
20 March 2025
While advanced economies debate peak fossil fuel demand, billions of people still lack access to reliable and affordable energy, especially in the Global South
14 March 2025
Ignoring questions of sustainability will not make the problems they focus on go away
