The Danish energy group Ørsted has released its 2024 results, posting a 71% growth in operating profit (EBITDA), thanks to a net reversal of provisions for cancelled projects. The group also reduced its impairment charges and reached a breakeven profit. Ørsted had 12.9 GW in operation, of which 5.26 GW was offshore wind, 3.7 GW onshore renewables and 2.1 GW CHP plants, 7.6 GW in construction and expected to be commissioned by 2027, and 5.2 GW awarded. In addition, the group had a pipeline of 19 GW in offshore wind and 16 GW in onshore wind. The group aims to reach 22 GW in operation at the end of 2026. In 2024, Ørsted's power generation rose by 8% to 38.4 TWh, thanks to ramp-up of generation from its offshore wind parks Greater Changhua 1 and 2a (Taiwan), South Fork (United States), and Gode Wind 3 (Germany), and 97% of its power generation came from renewable sources. Moreover, the group sold 20 TWh of power (-7%, due to an 8% drop of wholesale volumes) and 17.4 TWh of gas (+3%).
The Norwegian energy group Equinor has also announced a strong operational performance with stable oil and gas production: crude oil production dipped by 2.7% to 1,082 mboe/d, while gas production increased by 1.5% to 985 mboe/d. The group's installed capacity averaged 2.4 GW (compared to a target of 10-12 GW by 2030) and its power generation rose by nearly 16% to 4.9 TWh, thanks to a 52% surge in renewable generation, that offset a 14% drop in gas-fired generation.
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