REG-Ørsted A/S Ørsted takes final investment decision on its first Irish solar farm

Oersted A/SAnnouncement

05/12/2023 10:15

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   Ørsted A/S (Orsted)
   Ørsted takes final investment decision on its first Irish solar farm

   05-Dec-2023 / 11:00 CET/CEST

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   5.12.2023 11:00:01 CET | Ørsted A/S | Investor News

   Ørsted has taken final investment decision (FID) on phase one of
   Garreenleen Solar Farm, which marks the company’s first solar investment
   in Ireland.  

   Located 15 km outside of Carlow town, this 81 MW solar development is
   expected to be operational by 2026 and will bring Ørsted’s operational
   capacity on the island of Ireland to almost 500 MW.   

   Today’s FID follows the project’s successful win under the Irish
   Government’s Renewable Electricity Support Scheme 3 (RESS 3) auction in
   September 2023. RESS 3 was a successful auction for Ørsted, with
   two projects (wind and solar) totalling 124 MW clearing. The RESS 3
   auction average strike price was EUR 100.47 per MWh, which is consistent
   with similar regimes in other European markets.  

   Commenting on the investment decision, Kieran White, Senior Vice President
   of Onshore in Region Europe at Ørsted, said:
   “Solar energy is an essential component for enabling the Irish power
   system to run entirely on green energy, and I’m delighted to confirm that
   Ørsted now will invest in our first Irish solar farm.“

   He continued: “While this will be our first solar project in Ireland, our
   strong pipeline of other projects, which continue to progress through
   consenting and grid access, gives us the confidence that more will
   follow.” 

   “Garreenleen is an attractive solar project because it has a short grid
   route to a strong meshed node in the existing national electricity
   network, in an area of the grid where constraints are forecast to be low.
   With this investment decision, the project will also install the necessary
   grid infrastructure to facilitate the connection of a second phase of the
   project, which we hope to commit to within the next year,” he concluded.

   For further information, please contact:

   Media Relations

   Thor R. Wilkens

   +45 99 55 44 07

    1 thrwi@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. 8,700 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  3 orsted.com or
   follow us on  4 Facebook,  5 LinkedIn, Instagram, and  6 X.

       Attachments

     •  7 Investor News Garreenleen FID.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.:  289866
   EQS News ID:   1789709


    
   End of Announcement EQS News Service

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References

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