Orsted reported H1 2025 revenue of DKK 37.8 billion, marking an 11 percent increase compared to H1 2024.
The growth was driven by higher power generation and elevated gas and electricity prices. Offshore and onshore power generation rose by 1 percent to 17.4 TWh, supported by ramp-ups at Gode Wind 3 and solar PV projects including Sparta Solar, Eleven Mile Solar, and Mockingbird.
Lower wind speeds slightly offset gains, while curtailments and adverse weather in H1 2024 did not recur. Heat generation fell 7 percent due to warmer weather, and thermal power declined 15 percent from reduced cogeneration and lower prices. Orsted’s renewable share reached 99 percent, up 2 percentage points year-on-year.
Gross investments in H1 2025 totaled DKK 25.0 billion, primarily in offshore wind farms such as Greater Changhua 2b and 4 (Taiwan), Hornsea 3 and Baltica 2 (Europe), and Sunrise Wind and Revolution Wind (US).
Onshore wind and solar PV investments amounted to DKK 2.7 billion, including projects like Badger and Old 300 BESS, while CHP plant investments focused on carbon capture and storage facilities in Denmark. Divestments reached DKK 7.2 billion, mainly from farm-downs of Eleven Mile and Sparta Solar and partial divestment of West of Duddon Sands.
Orsted achieved a 72 percent reduction in scope 1 emissions, reflecting the cessation of coal-based generation and lower natural gas usage. Combined scope 1 and 2 greenhouse gas intensity fell to 4 g CO₂e/kWh from 15 g CO₂e/kWh in H1 2024. Scope 3 emissions were down 21 percent, driven by lower emissions from capital goods. Overall, scope 1–3 intensity decreased 63 percent to 52 g CO₂e/kWh.
Offshore Wind Performance: Q2 2025 offshore generation totaled 3.6 TWh, down 1 percent due to reduced wind speeds in April. Availability improved to 90 percent, seven percentage points higher than Q2 2024. Revenue rose 11 percent to DKK 5.9 billion from operational offshore wind farms, with total Q2 revenue reaching DKK 13.4 billion, supported by higher power prices and construction agreements such as Greater Changhua 4.
Onshore Wind and Solar: Q2 2025 onshore generation decreased 4 percent to 4.0 TWh due to lower wind speeds, scheduled maintenance, and farm-down effects at Mockingbird, Sparta Solar, and Eleven Mile. Revenue totaled DKK 0.6 billion, slightly lower than Q2 2024, reflecting reduced output.
Orsted’s H1 2025 performance underscores its commitment to renewable energy expansion, strategic investments, and sustainability, reinforcing its position as a global leader in clean energy generation.
Faheema P