28 Jun '18, 5pm

Ørsted, Formerly #Danish #Oil and #Natural Gas, is Poised to go to Entirely Clean, #Renewable Energy https://t.co/gfaGlSSjei

Ørsted, which boasts that 85% of its annual DKK15-20 billion (US$2.33 billion to $3.11 billion) in investments is dedicated towards offshore wind, is similarly looking to increase its portfolio of green growth initiatives, and has recently concluded “that the continued technological innovation in green energy is expected to translate into continued cost reductions and a gradual decrease in subsidies on the journey towards producing and selling green energy entirely on commercial terms.” As such, it has decided to divest its Danish power distribution and residential customer businesses, concluding that “they are not a sales channel supporting the company’s long-term international growth in renewables.”

Full article: https://cleantechnica.com/2018/06/28/orsted-doubles-down-...

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