Ørsted (Dong Energy): £7bn potential to the UK economy in wind energy export market

By Jonathan Dyble
In the same week that Dong Energy has changed its name to Ørsted following the sale of its fossil fuel assets, the firm based in Copenhagen, Denmark...

In the same week that Dong Energy has changed its name to Ørsted following the sale of its fossil fuel assets, the firm based in Copenhagen, Denmark, has estimated that the wind energy export market could be worth as much as £7bn to the UK by 2050.

Speaking at an event at the political Conservative party conference, Ørsted’s Head of Programme Assets Management, Benj Sykes, has said that the industry is likely to be worth anywhere between £5bn to £7bn in the next 30 years.

“We need to make sure we can access those markets where the opportunities lie,” he said, speaking of the countrywide need to seize potential export deals presented by Brexit.

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Having been awarded a contract for its current Hornsea project, Ørsted is currently building the world’s largest offshore wind farm, expected to provide 1.4GW of power.

“This is a breakthrough moment for offshore wind in the UK and a massive step forward for the industry,” said Matthew Wright, Managing Director of the company.

“Not only will Hornsea project two provide low cost, clean energy to the UK, it will also deliver high quality jobs and another huge boost to the UK supply chain.”

Being built 89 miles off the coast of Yorkshire, the wind farm will produce enough energy to provide power for as many as 1.3mn UK homes.

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