Insider Q&A: From oil to offshore wind, Ørsted transformed

Published March 20, 2023 5:00 AM

By JENNIFER McDERMOTT
Associated Press

NEW YORK (AP) — There’s scientific agreement that carbon emissions must cease in order to address climate change, but how does a company make that transition and remain profitable? Ørsted, the former Danish Oil and Natural Gas company, ramped up construction of offshore wind farms beginning in 2008. Then it sold off the oil and gas side of the business in 2017. Now Ørsted is a global leader in renewable energy. Offshore wind turbines built in huge arrays are booming. The company went from being one of Europe’s most fossil fuel-intensive energy companies to a green energy company in a little more than a decade. Ørsted CEO Mads Nipper said the world is now ready for a totally different level of scaling for carbon-free energy.

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