Farm-downs, Partnerships Drive Wind Developer Orsted’s Profit Up in Q3
The company's EBITDA for the quarter stood at DKK12.32 billion
November 8, 2022
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Denmark-based wind developer Orsted posted a net profit of DKK9.36 billion (~$1.26 billion) in the third quarter (Q3) of 2022, a massive jump of 1,821% year-over-year (YoY). The company earned DKK10.9 billion (~$1.46 billion) as a farm-down gain from the 50% divestment of the Hornsea 2 and Borkum Riffgrund 3 offshore wind farms.
Arjun Joshi
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