Orsted Looks Forward to Outlook Amid COVID-19 Uncertainty

Orsted has said that it was sticking with its outlook for this year in spite of the coronavirus outbreak.

The Danish company is in the middle of a $30 billion investment programme in green energy as it pursues to become one of a handful of future "renewable majors".

It said all of its assets endured fully operational and its construction projects were developing according to plan.

It said it has 30 billion Danish crowns ($4.35 billion) in liquidity reserves which could support its operations and construction through 2020 and 2021 without further funding.

European power and gas prices have sunk to new lows as lockdowns due to coronavirus lower energy demand but Orsted said that it saw restricted risk of being materially impacted.

"So far, power demand in our core markets is much less affected, and we cannot detect any changed pattern in the occurrence of negative wholesale power prices," it said.

Business | News published on 25/03/2020 by News Bureau

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