Ørsted is accelerating its global build-out of renewable energy with the aim of reaching around 50 GW of installed capacity by 2030.
Around 30 GW will come from offshore wind. 2.5 GW is expected from renewables, such as sustainable biomass, renewable hydrogen, and green fuels.
The Danish green energy giant said it will invest approximately DKK350bn ($57.5bn) in green energy from 2020 to 2027.
The majority of the investment, approximately 80%, will also go into offshore wind, including renewable hydrogen.
Mads Nipper, group president and CEO of Ørsted, stated: “With the offshore wind industry’s largest concrete development pipeline, our global development organisation, and our industry-leading commitment to innovation, it’s our clear aspiration to remain the global market leader in offshore wind.
“In renewable hydrogen and green fuels, we’ve built a strong platform with industry-leading offtakers, and we intend to grow this platform to become a global leader in renewable hydrogen.”