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Orsted ( (DOGEF) ) has shared an update.
Ørsted reported strong operational performance in the first quarter of 2026, with EBITDA excluding partnerships and cancellation fees rising 11% year on year to DKK 9.5 billion, driven mainly by a 27% increase in offshore generation and ramp-up at key projects such as Borkum Riffgrund 3 and Greater Changhua 4. The offshore business contributed DKK 7.5 billion of EBITDA, net profit reached DKK 2.6 billion despite non-cash tax effects and U.S. interest-rate-related impairments, and the company maintained full-year guidance for EBITDA above DKK 28 billion and gross investments of DKK 50–55 billion.
The company advanced its 8.1 GW offshore wind construction pipeline across three continents, delivering first power from Revolution Wind to New England, installing initial turbines at Sunrise Wind off New York, and starting monopile installations at Hornsea 3 in the UK and Baltica 2 in Poland, while keeping Taiwanese projects Greater Changhua 2b and 4 on track for commissioning in the third quarter of 2026. Management framed these developments within Europe’s energy security challenges, highlighting offshore wind’s role in cutting fossil-fuel dependence and system costs, and signalling a strategy to refocus and invest in value-creating opportunities in Europe and select APAC markets as governments advance new tenders.
More about Orsted
Ørsted is a Denmark-headquartered renewable energy company and a global leader in developing, constructing, and operating offshore wind farms, with a core focus on Europe and growing activities in Asia Pacific and North America. The group has 10.2 GW of installed offshore capacity and 8.1 GW under construction, contributing to more than 18 GW of total installed renewable capacity across offshore and onshore wind, solar, energy storage, bioenergy, and energy trading, and is listed on Nasdaq Copenhagen.
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