Danish renewables company Ørsted, the biggest developer of offshore wind farms in the world, plans to invest the equivalent of over US$57 billion by 2027 as part of a new strategy to become a global green energy major. Ørsted, which currently has 12 gigawatts (GW) of installed renewable capacity around the world, plans to nearly triple that capacity to 50 GW by 2030, the company said on its Capital Markets Day on Wednesday. In order to support this build-out of renewable energy capacity, Ørsted plans to invest around US$57.46 billion (350 billion Danish crowns) in green energy from 2020 to 2027. The 50-GW target of installed renewable capacity by 2030 will consist of around 30 GW of offshore wind, 17.5 GW of onshore wind and solar photovoltaics (PV), and around 2.5 GW from other renewables, including sustainable biomass, renewable hydrogen, and green fuels. Ørsted expects an average return on […]