Orsted, the world's largest offshore wind developer, announced on Wednesday that it will invest $68 billion in renewable energy by 2030. The company said the investment will help it to achieve its goal of 50 gigawatts (GW) of renewable energy capacity by 2030.
Of the $68 billion investment, $47 billion will be used to develop and build new offshore wind projects. Orsted said it plans to double its offshore wind capacity to 30 GW by 2030. The company also plans to invest $12 billion in onshore wind and solar projects, as well as $9 billion in energy storage and other technologies.
Orsted CEO Henrik Poulsen said the company's investment is a "clear signal" of its commitment to the transition to a low-carbon future. "We are confident that this investment will help us to continue to grow and deliver value to our shareholders," he said.
The announcement comes at a time when the global demand for renewable energy is growing rapidly. The International Renewable Energy Agency (IRENA) predicts that the world will need to invest $2 trillion in renewable energy by 2030 in order to meet its climate goals.
Orsted's investment is a significant vote of confidence in the future of renewable energy. The company's commitment to offshore wind, in particular, is a major boost for the industry. Offshore wind is a key technology for decarbonizing the global electricity sector, and Orsted is one of the leading developers in the world.
The company's investment is also a sign of the growing competitiveness of renewable energy. The cost of renewable energy has fallen sharply in recent years, making it a more affordable option than fossil fuels. This is driving increased investment in renewable energy projects around the world.
Orsted's announcement is a major step forward for the global transition to a low-carbon future. The company's investment will help to accelerate the development of renewable energy projects, and it will help to create jobs and boost economic growth.
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