Tag: Ørsted

Ørsted enters into new major agreement on carbon removal with Microsoft

Stuart Mitchell

In a landmark deal, Ørsted will sell a further one million tonnes of carbon removal over a ten-year period to Microsoft from Avedøre Power Station, which is part of the bioenergy carbon capture and storage (BECCS) project ‘Ørsted Kalundborg CO2 Hub’. This new agreement builds on an existing commitment by Microsoft to buy 2.67 million tonnes from Asnæs Power Station, bringing the total purchase under contract to 3.67 million tonnes of CO2. As part of the ‘Ørsted Kalundborg CO2 Hub’, Ørsted will establish carbon capture at its wood chip-fired Asnæs…

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Ørsted successfully issues EUR green hybrid capital securities

Stuart Mitchell

Ørsted A/S (‘Ørsted’) has priced EUR 750 million of subordinated green hybrid capital securities with final maturity on 14 March 3024 and first reset date on 14 December 2029 (NC5.75). Settlement date of the new issue will be on 14 March 2024. The purpose of the new issue is to refinance Ørsted’s EUR 500 million 2.25 % hybrid capital securities issued in 2017, which is callable at par on the first reset date, 24 November 2024, and to proactively manage Ørsted’s hybrid capital portfolio. Today, Ørsted has also invited holders…

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Ørsted ranked the world’s most sustainable energy developer

Stuart Mitchell

Ørsted was recently ranked the world’s most sustainable energy developer. The company was ranked number one among the 292 ‘power generating companies’ in Corporate Knights’ 2024 Global 100 index for the fifth time. Corporate Knights benchmarks a company’s sustainability performance against its usual peers and across sectors.  Once a carbon-intensive company, Ørsted transitioned to renewables faster than any other major energy company. The company put sustainability at the core of its strategy as it became the global leader in offshore wind and is committed to a green transformation that benefits…

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Ørsted begins construction of Denmark’s first carbon capture project

Stuart Mitchell

Ørsted is embarking on the construction of two carbon capture (CCS) facilities designed to capture and store carbon emissions from the woodchip-fired Asnæs Power Station in Kalundborg and the straw-fired unit at Avedøre Power Station in Greater Copenhagen. This project represents Denmark’s first full-scale carbon capture project and signals the dawn of a new era for carbon capture and storage in the country. It is expected that the carbon capture project, which was awarded a 20-year contract by the Danish Energy Agency in May 2023, will capture 430,000 tonnes of biogenic…

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Ørsted and ESVAGT sign second contract for methanol-powered vessel

Stuart Mitchell

In 2024, the world’s first green fuels vessel for offshore wind operations will launch off the UK East Coast, as the result of a ground-breaking agreement between Ørsted and ESVAGT. Now the two companies are expanding their partnership on green offshore operations by signing an agreement for a second green service operation vessel.   Ørsted and ESVAGT have signed an agreement for a sister vessel to the world’s first methanol-powered service operation vessel (SOV), which was announced in 2022, further deepening the companies’ commitment to reducing carbon emissions from the…

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