Apr 23, 2021

Orsted

Pivoting to wind

Justin Worland

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Senior Correspondent

Orsted's offshore windfarm "Borssele 1 & 2," located off the coast of the Dutch province of Zeeland.

Orsted's offshore windfarm "Borssele 1 & 2," located off the coast of the Dutch province of Zeeland.Courtesy Ørsted

Many energy companies say they plan to transition away from fossil fuels to renewable-energy sources; Orsted is often held up as an example of a company actually doing it. Founded as the Danish Oil and Natural Gas company in 1973, Orsted sold off its oil-and-gas assets in 2017 and reoriented itself around renewable energy—particularly offshore wind. The bet paid off, and today Orsted is the world’s leading offshore wind operator. Perhaps more important, says CEO Mads Nipper, its success in the sector helped drive a global move toward a technology that could prove critical in fighting climate change.