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Orsted mulls onshore, PV, storage

New business unit focused on potential long-term growth options

Orsted mulls onshore, PV, storage image

Offshore wind leader Orsted is establishing a new business unit for the development of onshore wind, solar and energy storage.

The Danish company said expansion into other technologies is part of a wider embrace of the renewables sector and are “long-term growth options”.

It said: “We have established a new unit focusing on energy storage and solar PV projects, and we also look into onshore wind. It is early days for these initiatives and we are still working to establish a scalable commercial model for them.”

The company added: “We first and foremost see value creation where we can take over projects from developers who do not have the scale, capabilities, and balance sheet to extract the full value from their projects.”

Orsted said it is not under pressure to pursue "new green avenues" but that "adjacent renewable technologies” would add to options for scale going forward. It does not expect the new business to contribute significantly to the group’s financial development in the short term. 

The company said it will spend up to 10% of its capex through 2023 in the growth segment, which also includes its Renescience bio technology and its “energy as a service” concept.

Image: reNEWS

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