REG-Ørsted A/S Ørsted and Vestas in industry-first pioneering partnership towards net-zero wind farms

Oersted A/SAnnouncement

07/06/2023 16:15

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   Ørsted A/S (Orsted)
   Ørsted and Vestas in industry-first pioneering partnership towards
   net-zero wind farms

   07-Jun-2023 / 17:00 CET/CEST

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   7.6.2023 17:00:01 CEST | Ørsted A/S | Investor News

   Today, Ørsted and Vestas, global leaders in renewable energy, are
   announcing a commercial sustainability partnership. Ørsted will procure
   low-carbon steel wind turbine towers and blades made from recycled
   materials from Vestas in all joint offshore wind projects.

   The deployment of offshore wind is crucial to enhancing energy security,
   advancing affordable energy for all, and not least curbing the climate
   crisis. Today, wind produces energy with a 99 % lower carbon footprint
   than coal, but on the scientific path to net-zero, we must limit the
   carbon that the manufacturing of materials and components used in wind
   farms emits. This is also becoming increasingly demanded by consumers of
   renewable energy and policymakers.

   Meeting this need requires cost-efficient solutions to address the most
   critical decarbonisation and circularity challenges in the wind industry,
   namely steel and blades. To address these challenges, Ørsted and Vestas
   will install low-carbon steel towers and, when commercially available,
   blades made from recycled materials at all future joint offshore wind
   farms. 

   By committing to integrate sustainable procurement not just as a one-off
   but in all future offshore projects between the two companies, Ørsted is
   creating ongoing demand for Vestas’ innovative low-carbon and circular
   solutions.

   Mads Nipper, Group President and CEO of Ørsted, says:

   “There’s no playing defence when it comes to climate change. And no
   progress without partnerships. That’s why we at Ørsted are very proud to
   partner with Vestas to integrate and scale cutting-edge decarbonisation
   and circularity solutions to meet future customer demands for net-zero
   wind farms. Together with Vestas, we’re leading the industry towards
   net-zero, and I urge decision-makers across the globe to also take action
   and help drive demand for low-carbon and circular solutions within
   renewable energy.“

   Henrik Andersen, CEO of Vestas, says:

   “The energy transition requires unprecedented scale and pace, and we need
   strong partnerships between leading companies and industries to succeed.
   We are excited to partner with Ørsted to expedite the deployment of
   our cutting-edge circular blade recycling technology and foster the demand
   for low-carbon steel in the wind industry's supply chain. This
   partnership is a leap forward for developing circular wind power
   projects and sends a powerful message that commercial agreements and
   collaboration are vital in our urgent fight against the climate crisis. “

   The partnership entails that for all joint future offshore wind farms, the
   two companies will: 

     • Procure and install a minimum of 25 % low-carbon steel towers in joint
       projects
       Over the last years, Vestas has spearheaded cross-industrial
       collaboration to establish availability of low-carbon steel for wind
       turbine towers. With the new partnership, Ørsted and Vestas are
       sending a strong demand signal to the steel industry to further
       accelerate the scaling of cost-competitive decarbonised steel for
       offshore wind. By utilising scrap steel manufactured with on-site
       renewable electricity, carbon emissions from heavy steel plates used
       in towers can be reduced by up to 70 %.  

     • Scale circular blade recycling technology and procure blades made from
       recycled materials
       Vestas and its partners in the CETEC project have pioneered the first
       solution to break down composite materials in both existing and future
       epoxy-based blades and use the recovered epoxy resin for new blades.
       This addresses the industry’s biggest circularity challenge, namely
       the many blades in operation today that need to be recycled at their
       end-of-life. Vestas is currently scaling up the circular recycling
       value chain together with its partners Olin and Stena Recycling. When
       ready for commercial manufacturing, Ørsted will procure wind turbines
       blades made from recycled materials from Vestas to further accelerate
       the scaling of the technology.

   Ørsted and Vestas have been leading the renewable energy industry towards
   a sustainable build-out of wind energy, while increasing scale and
   reducing costs. Ørsted and Vestas were the first renewable energy
   developer and manufacturer, respectively, to have validated 1.5 ºC-aligned
   science-based targets for decarbonisation of the entire value chain, and
   both companies have implemented industry-leading supplier decarbonisation
   and engagement programmes. They are also committed to solving the
   industry’s biggest circularity challenge – ending landfilling of blades –
   making the companies natural partners to take the next steps together
   towards net-zero wind farms.

   Apart from the commitments on low-carbon steel towers and circular blade
   recycling, the companies have also pledged to explore other areas of
   collaboration within sustainability, including within biodiversity to
   ensure a build-out of renewable energy in balance with nature.

   For further information, please contact:

    

   Ørsted Media Relations

   Thor Wilkens

   +45 99 55 44 07

    1 thrwi@orsted.com

    

   Vestas Media Relations

   Claes Lautrup Cunliffe

   +45 50 50 94 91

    2 caecn@vestas.com

    

   Ørsted Investor Relations

   Rasmus Keglberg Hærvig

   +45 99 55 90 95

    3 ir@orsted.com

    

   Vestas Investor Relations

   Mathias Dalsten

   +45 28 29 53 83

    4 madls@vestas.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. Ørsted is recognised on the CDP Climate
   Change A List as a global leader on climate action and was the first
   energy company in the world to have its science-based net-zero emissions
   target validated by the Science Based Targets initiative (SBTi).
   Headquartered in Denmark, Ørsted employs approx. 8,000 people. Ørsted's
   shares are listed on Nasdaq Copenhagen (Orsted). In 2022, the group's
   revenue was DKK 132.3 billion (EUR 17.8 billion). Visit  5 orsted.com or
   follow us on Facebook, LinkedIn, Instagram, and Twitter.

    About Vestas

   Vestas is the energy industry’s global partner on sustainable energy
   solutions. We design, manufacture, install, and service onshore and
   offshore wind turbines across the globe, and with more than 166 GW of wind
   turbines in 88 countries, we have installed more wind power than anyone
   else. Through our industry-leading smart data capabilities and
   unparalleled more than 146 GW of wind turbines under service, we use data
   to interpret, forecast, and exploit wind resources and deliver
   best-in-class wind power solutions. Together with our customers, Vestas’
   more than 28,000 employees are bringing the world sustainable energy
   solutions to power a bright future.

    

       Attachments

     •  6 OrstedxVestas-IMG_6922.jpg
     •  7 EN_o7062023 Vestas Ørsted PR_final.pdf

   News Source: Ritzau

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          DK0060094928
   Category Code: MSCL
   TIDM:          Orsted
   Sequence No.:  249324
   EQS News ID:   1652017


    
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References

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