REG-Ørsted A/S Ørsted enters its first UK solar project

Oersted A/SAnnouncement

13/09/2023 09:30

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   Ørsted A/S (Orsted)
   Ørsted enters its first UK solar project

   13-Sep-2023 / 10:21 CET/CEST

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   13.9.2023 10:21:29 CEST | Ørsted A/S | Investor News

   Ørsted has entered its first solar project in the UK. One Earth Solar Farm
   is a proposed 740 MW solar farm with associated battery storage, that will
   primarily be located in Nottinghamshire near the border of Lincolnshire
   and is being co-developed with PS Renewables.

   Once operational, the 740 MW solar farm will generate enough clean,
   renewable electricity to power up to 200,000 homes, making it one of the
   largest solar farms in the country. Subject to local and stakeholder
   consultation, which will begin later this month as part of the process for
   nationally significant infrastructure projects (NSIP), a development
   consent order (DCO) submission is planned for 2025.

   Ørsted is taking a phased ownership in the project with the achievement of
   key milestones. PS Renewables and Ørsted are targeting a commercial
   operation date for the One Earth Solar Farm before 2030. The renewable
   electricity produced by the solar farm has several potential routes to
   market including contracts for difference and corporate power purchase
   agreements.

   The project will contribute to Ørsted’s global ambition of reaching 17.5
   GW of onshore capacity by 2030. Ørsted currently has over 5.7 GW of
   onshore renewables in operation, under construction or consented across
   the United States and Europe.  
    
   Solar energy is crucial to diversifying and balancing energy generation,
   and reducing reliance on fossil fuels. The UK government has set a clear
   target to increase solar capacity by nearly fivefold to 70 GW by 2035 as
   part of wider plans to power up Britain with cleaner, cheaper and more
   secure energy sources.

   Kieran White, Senior Vice President of Onshore in Region Europe at Ørsted,
   said: “With a strong Irish onshore portfolio already in place, we are
   delighted to begin our journey in the UK solar market with PS Renewables,
   who have been successfully delivering large-scale solar projects for more
   than a decade.” 

   Duncan Clark, Senior Vice President and Head of UK and Ireland at Ørsted,
   said: “Ørsted is committed to investing in a variety of renewable energy
   sources to ensure reliability and independence of supply. We welcome the
   UK government’s ambition to install 70 GW of solar capacity by 2035 and
   look forward to working with the government’s new Solar Taskforce and
   stakeholders from across the industry to maximise the benefits that solar
   energy offers to the nation.” 

   Matt Hazell, Co-owner of PS Renewables, said: “The One Earth Solar Farm
    stands to make an important contribution to the national decarbonisation
   effort. Our expertise in solar energy and Ørsted’s renewables track record
   make this a compelling project.”

   The entry in to the One Earth project is the latest stage of Ørsted’s
   investment in onshore renewable energy in the UK and Ireland, following
   the announcement of Ørsted’s first solar farm in Ireland at Ballinrea (65
   MW) near Carrigaline in Cork and the acquisition of the 160 MW Garreenleen
   project earlier this year, bringing Ireland’s solar pipeline to a total in
   excess of 600 MW. Ørsted already operates 420 MW of onshore wind in the UK
   and Ireland, producing enough green electricity to power more than 275,000
   homes.

   Media Relations
   Tom Christiansen
   +45 99 55 60 17
    1 tomlc@orsted.com

   Investor Relations
   Rasmus Keglberg Hærvig
   +45 99 55 90 95
    2 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. 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).

       Attachments

     •  3 Investor News - One Earth Solar.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: MSCM
   TIDM:          Orsted
   Sequence No.:  271218
   EQS News ID:   1725303


    
   End of Announcement EQS News Service

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References

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