From Fossil Fuel Giant to World's #1 Green Energy Company

In 2006, DONG Energy was a Danish state-owned utility responsible for one-third of the country's carbon emissions, with 85% of its generation running on coal. In 2009 its leadership committed to reversing that mix entirely toward renewables.

Orsted scaled offshore wind to cost parity through a bulk 500-turbine order, used a biomass bridge to retire coal plants without breaking supply obligations, divested its oil and gas business, and restructured financing around green bonds exclusively from 2017.

By 2024, Orsted closed its last coal plant, cut GHG emissions intensity 98% versus 2006, and reached 18.2 GW of installed renewable capacity, while EBITDA grew to DKK 24.8 billion in the same year.