REG-Ørsted A/S Ørsted acquires its first solar project in Ireland

Oersted A/SAnnouncement

30/08/2022 07:15

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   Ørsted A/S (Orsted)
   Ørsted acquires its first solar project in Ireland

   30-Aug-2022 / 08:00 CET/CEST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   30.8.2022 08:00:01 CEST | Ørsted A/S | Investor News

   The 65 MW project will be located in Cork and is expected to be
   operational in 2025.

   Ørsted has completed the acquisition of the Ballinrea solar PV project in
   Ireland from experienced renewable energy developer Terra Solar. The 65 MW
   solar project will be located in Cork, the second-largest city in Ireland,
   and will become Ørsted’s first solar project in the country. Ballinrea
   Solar Farm is expected to generate enough green energy to power up to
   16,000 Irish homes – equivalent to almost every new home to be built in
   Cork City between now and 2028. 

   Kieran White, Vice President of Europe Onshore in Ørsted, says: “The
   transaction marks a significant milestone as it’s the first Irish solar
   project acquisition for the company. This project will make a meaningful
   contribution to Ireland’s national energy target of 80 % renewable
   electricity by 2030 and to the Irish government’s new 5.5 GW solar target.
   We’re delighted to work with Terra Solar to accelerate our solar journey
   in Ireland.”

   Ballinrea Solar Farm will contribute to Ørsted Onshore’s ambition to grow
   its global portfolio to a ~50:50 wind and solar PV capacity mix towards
   2030. With  1 the company’s recent acquisition of Ostwind, Ørsted entered
   the French and German solar markets, adding to its ambitions to develop a
   substantial portfolio of solar projects in Spain together with four local
   partners,  2 announced in June this year.

   Globally, Ørsted has approx. 5 GW of capacity in operation and under
   construction across onshore wind, solar, and storage, 1.3 GW of which is
   solar. The company is on track to reach a total of 17.5 GW onshore
   capacity globally by 2030.

   For further information, please contact:
   Media Relations
   Kathrine Ejlskov
   +45 99 55 10 23
    3 katej@orsted.com

   Investor Relations
   Rasmus Keglberg Hærvig
   +45 99 55 90 95
    4 ir@orsted.com

   About Ørsted
   The Ørsted vision is a world that runs entirely on green energy. Ørsted
   develops, constructs, and operates offshore and onshore wind farms, solar
   farms, energy storage facilities, renewable hydrogen and green fuels
   facilities, and bioenergy plants. Moreover, Ørsted provides energy
   products to its customers. Ørsted is the only energy company in the world
   with a science-based net-zero emissions target as validated by the Science
   Based Targets initiative (SBTi), and Ørsted aims to deliver a net-positive
   biodiversity impact from all new renewable energy projects it commissions
   from 2030 at the latest. Ørsted ranks as the world’s most sustainable
   energy company in Corporate Knights' 2022 index of the Global 100 most
   sustainable corporations in the world and is recognised on the CDP Climate
   Change A List as a global leader on climate action. Headquartered in
   Denmark, Ørsted employs 7,292 people. Ørsted's shares are listed on Nasdaq
   Copenhagen (Orsted). In 2021, the group's revenue was DKK 77.7 billion
   (EUR 10.4 billion). Visit  5 orsted.com or follow us on Facebook,
   LinkedIn, Instagram, and Twitter.

    

       Attachments

     •  6 Ballinrea solar.jpg

   News Source: Ritzau

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   ISIN:          DK0060094928
   Category Code: MSCM
   TIDM:          Orsted
   Sequence No.:  184540
   EQS News ID:   1430673


    
   End of Announcement EQS News Service

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