Danish offshore wind giant Orsted is on track to beat internal expectations for 2017 with operational earnings of Dkr22.5bn (€3bn).
The EBITDA figure, based on “preliminary and unaudited reporting”, is higher than the most recent outlook of Dkr21bn.
Orsted said the results were primarily attributable “to strong earnings from offshore wind farms operation in the last part of the year” and the “faster ramp-up of generation from new offshore wind farms Race Bank (573MW) and Walney 3 (659MW)”.
It said earnings from partnership agreements are also better than expected due to “good progress and lower costs on the construction” of the latter two UK projects, of which Walney 3 is still underway.
Orsted will publish its annual report on 1 February.
Image: a blade is lifted into place at Race Bank (Orsted)
Orsted goes above and beyond
By EBS