LONDON: Ørsted, the world’s leading offshore wind developer, has unveiled its updated business plan following a comprehensive portfolio review. The company aims to grow its installed capacity from 12 GW to 50 GW by 2030, with a focus on offshore wind, onshore renewables, and renewable hydrogen.

The company also announced that Thomas Thune Andersen, who has served as the chair of the board of directors since 2014, will step down at the upcoming annual general meeting on March 2, 2024. He will be succeeded by Dieter Wemmer, who has been a board member since 2018 and has extensive experience in the financial sector.

Ørsted’s CEO Mads Nipper said: “We’re grateful for Thomas Thune Andersen’s outstanding leadership and guidance during a period where Ørsted has undergone a fundamental transformation from a fossil-based utility to a global green energy company. We’re also pleased to propose Dieter Wemmer as our new chair. He brings a strong financial acumen and a deep understanding of our business and the green energy transition.”

Ørsted’s new business plan reflects its ambition to become a global leader in green energy and to contribute to the fight against climate change. The company expects to invest DKK 350 billion in green energy projects between 2020 and 2027, and to achieve a carbon-neutral footprint by 2025. Ørsted also aims to reach net-zero emissions across its entire carbon footprint by 2040, in line with the 1.5°C scenario of the Paris Agreement.