Danish energy company Ørsted has released its financial and operational results for 2018. The group generated over 17 TWh of electricity in 2018 (+3.6%), of which 10 TWh from its offshore wind parks (+18%), 6.7 TWh from its thermal power plants (-18%) and 0.6 TWh from onshore wind. Its offshore and onshore wind installed capacities stood respectively at 5.6 GW (+44%) and 0.8 GW, while its thermal power capacity amounted to 1.9 GW.
The respective share of each energy source in the company's power and heat generation was as follows: offshore wind (39%, +6 percentage points), biomass (34%, +3 percentage points), coal (17%, -2 percentage points), gas (8%, -9 percentage points), onshore wind (2%) and other sources such as oil and solar. The share of renewables in the company's heat and power generation increased from 64% in 2017 to 75% in 2018.
Gas sales amounted 131 TWh in 2018 (+1.6 percentage points) while electricity sales stood at 35.2 TWh (-6.1 percentage points). The company distributed 8.4 TWh of power in 2018, an amount similar to 2017.
Gross investments for 2019 are set to amount between DKK21bn (€2.8bn) and DKK23bn (€3.1bn), which is 4-10% more than the DKK15bn (€2bn) spent in 2018. By 2025, the firm intends to source more than 99% of its energy generation from renewable sources. It also defined the ambition to install more than 30 GW of renewable capacity by 2030 (with an intermediate target of 15 GW by 2025), which entails wind, biomass and solar PV.
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