REG-Ørsted A/S Ørsted enters Spanish onshore renewables market with solar and wind partnerships

Oersted A/SAnnouncement

08/06/2022 10:45

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   Ørsted A/S (Orsted)
   Ørsted enters Spanish onshore renewables market with solar and wind
   partnerships

   08-Jun-2022 / 11:30 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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   8.6.2022 11:30:00 CEST | Ørsted A/S | Investor News

   Ørsted has entered four partnerships to pursue early-stage solar and
   onshore wind projects in the upcoming grid auctions in Spain and announces
   multi-GW ambitions in the market long-term. To support its Spanish
   ambitions, the company has established a team and office in Madrid.

   In 2021, Ørsted entered the European onshore market by acquiring
   Brookfield Renewable Ireland’s onshore wind platform, from which Ørsted is
   developing high-potential projects that will contribute to the Group’s
   growth ambitions of approx. 17.5 GW onshore renewable capacity by 2030.
   Building on its Irish/UK onshore platform and experience in evaluating
   European energy projects, Ørsted is now establishing an onshore business
   in Spain – one of Europe’s largest renewables markets – by entering four
   partnerships with Glide Energy, Rolwind, ARBA Energías Renovables, and
   Ereda, respectively, that will support project development and services.

   The Spanish government has set out to reach 70 % renewable generation by
   2030 followed by 100 % renewable generation by 2050. The country plans to
   develop 39 GW solar PV, 50 GW onshore wind, 3 GW of floating offshore
   wind, and 40-60 MW of various types of marine energy by 2030, making Spain
   an absolute front runner in the green energy transition and an attractive
   market for developers.

   Ørsted’s new partners all have extensive experience in greenfield
   development and together form a complementary geographic footprint. The
   short-term aim of the partnerships is to develop onshore wind and solar PV
   projects in Spain that allow Ørsted to participate in the upcoming Spanish
   grid auctions expected mid-2022 and put in bids for rights to develop a
   multi-GW pipeline solar and wind energy across Spain. The longer-term goal
   is to develop large-scale onshore wind, solar PV, and storage projects
   that can be commercialised through either government auctions or the
   growing market for corporate power purchase agreements.

   Neil O’Donovan, CEO of Ørsted Onshore, says:
   “We’re pleased to have established several strong partnerships to drive
   our onshore entry into the Spanish market and execute another step in our
   strategy of scaling our European platform. Our ambition is to grow a
   significant multi-GW onshore business in Spain over the next decade across
   wind, solar, and storage technologies that will help our corporate and
   government partners decarbonise and complement the ambitions of Ørsted’s
   offshore business in a key market. We believe these partnerships to be the
   best starting point for that journey.” He continues: “Our new partners
   complement Ørsted’s experience with scaling an onshore business with a
   strong development expertise and local knowledge of the Spanish market.
   Together, we can provide relevant green energy solutions at scale to
   support the green transformation in the country while creating value for
   our stakeholders. I’m excited about the potential of the Spanish onshore
   market and pleased that we now have an office in Madrid where we’ve
   recently welcomed our new colleagues.”

   The onshore partnerships follow Ørsted’s announcement in April 2022 to
   explore floating offshore wind opportunities in Spain. The expected
   presence across technologies will enable the company to provide a full
   suite of solutions to corporate and governmental customers.

   In Europe, Ørsted currently has onshore projects in development and
   operation in Ireland and the UK. The biggest part of Ørsted’s onshore wind
   and solar portfolio is in the US. The company has an ambition of reaching
   approx. 17.5 GW of onshore capacity globally in 2030 and is continuously
   looking towards entering attractive markets such as the Spanish.

   For further information, please contact:
   Media Relations
   Kathrine Ejlskov
   + 45 99 55 10 23
    1 katej@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. 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). 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 7,016 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  3 orsted.com or follow us on
   Facebook, LinkedIn, Instagram, and Twitter.

       Attachments

     •  4 Ørsted enters Spanish onshore renewables market with solar and wind
       partnerships.pdf
     •  5 Ørsted enters Spanish onshore renewables market.jpg

   News Source: Ritzau

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   ISIN:          DK0060094928
   Category Code: MSCM
   TIDM:          Orsted
   Sequence No.:  166975
   EQS News ID:   1371057


    
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