can a leader in offshore wind power succeed in the united states? - energy storage companies

London —A little-
Well-known Danish companies may have some answers to climate change.
Whether it has the impact it hopes will depend in part on its ability to compete with some of the biggest energy companies on Earth.
Over the past 30 years, Ostend has figured out how to build large wind farms in shallow waters near northern Europe, driven by large jet-sized turbines.
These facilities generate a lot of clean energy.
The cost of electricity they produce is also similar to the cost of new natural electricity
According to Deepa Venkateswaran, an analyst at market research firm Bernstein, natural gas power plants. Ms.
Venkateswaran said that as many new offshore wind power plants are expected to be built in the coming years, the cost of building them may continue to decline.
According to Bernstein, Oster has accounted for about 30% of the global offshore wind power market, which is mainly in Europe.
This is more than twice as close as its closest competitor, the German utility company RWE.
Orsted estimates that its spinning machine has powered the demand of more than 12 million people.
Henry Paulson, chief executive of the company, said in an interview that he plans to invest about $30 billion over the next few years, expand the company's business scope from its current European base to Asia and North America. Mr.
Poulsen also plans to build other businesses such as solar energy and energy storage.
"Our vision is to create a world that relies entirely on green energy," he said . ".
However, accelerating the pace of investment, away from the comfort zone, will bring risks to the current mild environment --
A large company with about 6,200 employees.
It reflects the challenges of the future of Copenhagen-based green powers, and the need to master the political and commercial environment of other countries, especially the United States, which is a new big market for offshore wind power.
But it brings many dangers and unknowns.
For example, companies entering the US market need to bid on projects costing hundreds of millions of dollars, while exploring regulatory regimes in different states and figuring out how to take advantage of their often aging power grids. Would-
The national government is also pushing be developers to help the local economy by building facilities and using local suppliers who may lack experience in new industries.
"The process is very complicated," said R . "J.
Eisenno, general manager for clean energy in the National Education Fast Track Initiative consultation.
Osterd and other ambitious renewable energy companies may also find themselves competing with oil giants such as Royal Dutch Shell and BP, which are investing in renewable energy and have the firepower to enter the market.
If Oster succeeds, analysts say, it could be a prototype of a new energy company built for the renewable energy era, its scale needs to contribute significantly to reducing greenhouse gas emissions from climate change.
"Because of their lead, Oster successfully entered a model that is the future model for all these companies," said Sam Arie . " Utility analyst at UBS's investment bank in London.
"Give this trend a few years and you can see the potential for a brand new company to emerge --
The world's largest wind and solar giants. ”When Mr.
Paulson, who has worked in a number of fields including private equity, and Lego, a Danish toy maker, took over osterd in 2012 due to poor investment in fossil fuels, the company is in financial trouble.
At that time, it was called "East Energy", the acronym for Danish oil and gas, reflecting its concern for oil production and coal
Thermal power plant.
In order to solve the enterprise crisis, management decided to focus on offshore wind power, which was a new and relatively unproven technology at that time, but Mr Dong had experience.
In the 1990 s, a unit of the company built the first offshore wind farm in a place called Vindeby near Denmark, and Dong was busy filling the North Sea shoal with turbines.
Other European utilities that are also betting on clean energy include Italy's Enel, whose Enel Green Power is a global player in wind, solar and other technologies, spain's Iberdrola also has global ambitions.
However, the most radical change was made by Ostend, perhaps because it was the most troublesome. Since Mr.
After Poulsen took over, the company sold a long list of businesses, including the oil and gas sector, to support the company's finances and finance new investments in renewable energy, mainly offshore wind.
The company says it has invested more than 80% of its capital in renewable energy over the past 10 years or so, up from around 16%.
The company says it has reduced emissions per unit of electricity by about twice as muchthirds.
Ostend is building the world's largest wind farm on the east coast of England.
According to the company, the array of more than 170 turbines will illuminate millions of homes.
As a sign of the project's expected profitability, Oster sold a 50% stake last year to financial investors, the global infrastructure partner, for £ 4.
5 billion (about $5. 8 billion).
While continuing to operate wind farms, the company has funded future growth in this way.
It turns out that the Green Shift in Oster is a profitable person.
Profits of 2018 have increased by about three to nineteen.
5 billion Dan Macron (about $2. 9 billion).
After a public listing three years ago, Ostend's market capitalization has more than doubled to about 214 billion Dan Macron, or about $32 billion.
The Danish government retains a controlling stake.
Osterd is now making great efforts to win overseas deals in the United States.
Several states on the East Coast, including New York, New Jersey and Massachusetts, are looking at large wind farms at sea as a way to replace aging nuclear and fossil-fuel power plants with clean energy.
The East Coast offers wind-powered industrial shallow waters suitable for today's turbines that can easily reach major cities such as New York and Boston.
Osterd also said it was working on a large offshore wind project in Taiwan called "great Changhua.
At the auction on the east coast of the United States, Ostend will engage with large oil companies such as Shell and Equinor in Norway, and in order to strengthen green energy efforts, they have obtained a submarine lease.
So far, orst's strongest competition comes from people who left the company when it was in trouble earlier this decade.
Osterd failed in the first large-scale overseas auction held in the United States last year.
The winner is a company backed by Iberia de la called Vineyard Wind, as well as a Danish finance company called the Copenhagen Infrastructure Partner, led by Jacob barneur Paulson (
Nothing to do with Henrik Paulson)
Mr. Dong's former deputy chief executive of the renewable energy department.
Oster fought back by spending $0. 5 billion on deep water wind in Providence. I. -
The company has a large portfolio of offshore leasing and projects, including a small wind farm near Block Island, the first offshore facility in the United States.
Osterd also hopes the company will bring political wisdom to win business in the United States.
Although Ostend does not necessarily dominate the United States as it did in Europe, Ms Ostend
Venkateswaran said, "they deserve a fair share.