REG-Ørsted A/S Ørsted to build large-scale solar PV project in Texas

Oersted A/SAnnouncement

13/01/2023 13:15

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   Ørsted A/S (Orsted)
   Ørsted to build large-scale solar PV project in Texas

   13-Jan-2023 / 14:05 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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   13.1.2023 14:05:01 CET | Ørsted A/S | Investor News

   Continuing its growth in onshore renewables, Ørsted has decided to build
   the 471 MW AC Mockingbird Solar Center in Texas. Covering an area of 4,900
   acres (approx. 20 km2), Mockingbird will be able to generate enough
   renewable energy to power more than 80,000 homes annually, making it the
   largest solar PV project in Ørsted’s portfolio to date.

   Ørsted has taken final investment decision (FID) on Mockingbird and will
   start construction of the project this month. Completion of the project is
   expected in 2024. 
    
   David Hardy, CEO of Region Americas at Ørsted, says: “Adding almost half a
   gigawatt to our portfolio, the decision to build Mockingbird represents an
   important milestone for our onshore business and for our expansion in
   solar PV. We look forward to building Mockingbird and for this project to
   start producing clean energy at a large scale. Mockingbird will achieve
   this while doing so in a way that prioritises conservation and our deep
   commitment to the communities we serve.”
    
   Almost 1,000 acres of land adjacent to Mockingbird Solar Center will be
   donated to The Nature Conservancy (TNC) to protect native prairie in
   north-east Texas. Less than 1 % of the original tallgrass prairies of
   Texas survive today, and less than 5 % remains nationally. The Ørsted-TNC
   conservation effort will be the largest preservation effort on record for
   this type of native prairie. 
    
   “We need to deliver green energy for this generation while protecting
   natural habitats for the next. That’s why we’ve prioritised the
   Smiley-Woodfin Prairie in Texas as our first biodiversity initiative in
   the United States,” said Daniel Willard, Biodiversity Specialist at
   Ørsted. “We want to thank The Nature Conservancy for working with us on
   this conservation effort. Drawing on both internal expertise and outside
   guidance, we’ll continue to look for opportunities to protect the prairie
   and ensure that native plants and pollinators thrive.”
    
   The land to be preserved will be transferred to TNC before the solar farm
   enters into operation and begins delivering renewable energy to the
   community.

   In 2021, Ørsted signed a ten-year corporate power purchase agreement with
   Royal DSM, a global, purpose-led leader in health and nutrition, applying
   bioscience to improve the health of people, animals, and the planet, who
   will be purchasing a share of the power from Mockingbird as part of their
   global journey towards a greenhouse gas reduction of 59 % by 2030 compared
   to base year 2016.
    
   Globally, and counting Mockingbird, Ørsted has approximately 5.5 GW of
   onshore renewable energy capacity in operation or under construction
   across onshore wind, solar, and storage, 1.8 GW of which is solar PV.
   Ørsted is on track to reach a total of 17.5 GW onshore capacity globally
   by the end of 2030 and has an ambition of installing 50 GW of renewable
   energy by the end of 2030, including 30 GW offshore wind.
    
   For further information, please contact:
    
   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. 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 approx. 7,700 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 Mockingbird_investor news.pdf

   News Source: Ritzau

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   ISIN:          DK0060094928
   Category Code: MSCM
   TIDM:          Orsted
   Sequence No.:  215754
   EQS News ID:   1535065


    
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