Renewable energy firm Ørsted gets boost from offshore wind earnings amid net profit decline

The company reiterated its full year guidance following a 18% surge in its offshore site earnings.

Ørsted plans to develop up to 5GW of offshore wind off Ireland’s coast and the company awaits detail on the second offshore energy auction this year.

Danish renewable energy company Ørsted, which has a significant presence in Ireland, is looking at other markets for offshore wind development amid fatigued progress in the onshore energy sector in Europe.

The company posted a jump in operating profit driven by an increase in its offshore site earnings from projects in locations such as the US and Taiwan.