Ørsted starts strategic partnership with Salzgitter AG and reaches milestone in South Korea

Fredericia, Denmark / Salzgitter - The Danish energy group and offshore wind energy specialist Ørsted has signed important agreements in Germany and South Korea in the course of decarbonizing industry.In the currently tense stock market environment, however, the Ørsted share price cannot benefit from this.

Der dänische Energiekonzern und Offshore-Windenergiespezialist Ørsted und das Stahl- und Technologieunternehmen Salzgitter AG kooperieren verstärkt auf dem Gebiet CO₂-armer und ressourcenschonender Wertschöpfungsketten.With their partnership, the two companies want to advance the decarbonization of industry.Ørsted also hit important agreements to develop the offshore wind energy market in South Korea with two state South Korean energy suppliers.

Ørsted and Salzgitter strive for resource -saving closed value chain

Salzgitter AG and Ørsted will work together as a strategic partner in the future.In a memorandum of Understanding (MOU), both companies have set their planned projects.Together, the two groups strive to establish closed value chains in their business relationships. Diese sollen neben der Lieferung von Offshore-Windstrom und der Nutzung von nachhaltig produziertem Wasserstoff auch die Produktion von CO₂-armen Stahl und dessen Einsatz in den Komponenten für die Offshore-Windparks von Ørsted beinhalten.It is also intended to attribute scrap from decommissioned wind turbines to the steel production process.

Ziel von Ørsted ist es, bis 2025 innerhalb des Konzerns den Status der Klimaneutralität zu erreichen, bei den indirekten CO₂-Emissionen innerhalb der Lieferketten soll dies bis 2040 gelingen.As a green electricity supplier and at the same time a large steel buyer, Ørsted sees a great opportunity to get one step closer to this goal in the partnership with Salzgitter AG.“A circularity partnership that we strive for will be trend-setting for the decarbonization of German industry.And the offshore wind force is one of the most important levers to achieve this, ”said the deputy Ørsted CEO Martin Neubert.

Ørsted signs offshore mous with leading Korean energy suppliers

Ørsted also reports an important milestone in the development of the South Korean offshore wind farm Incheon.The energy group has intended declarations for the development of the 1.600 megawatts (MW, 1.6 GW) offshore wind project signed.

Accordingly, the companies have agreed to contribute to the growth of offshore wind energy in Korea and to support the goals of the country in relation to carbon neutrality by exploring important areas of cooperation in the offshore wind project Incheon.The probing will include the acceptance of certificates for renewable energies (REC), the joint operation and partnerships as well as the technology exchange for the operation and maintenance of offshore wind turbines, while at the same time it is to work on a broader cooperation in the development of renewable energies in Korea.

The offshore wind energy project Incheon will provide 1.3 million Korean households with offshore wind power after commissioning. Mit einer Einsparung von fas 4 Millionen Tonnen CO₂ jährlich unterstützt es Südkorea zudem bei seinem Ziel, bis 2050 Netto-Null-Emissionen zu erreichen.

Ørsted, Kospo and Komipo plan to build the offshore wind project Incheon at a location that is more than 70 km from the coast.The choice of location is intended to enable WIN-WIN cooperation with residents and fishermen in Incheon and help to be minimized on the environment and fishing waters.With these agreements, the two pension companies want to meet their social responsibility by using a business model that benefits both the residents and the environment.

“We are confident that we will adapt to the Korean market through the use of our more than 30 years of global experience as well as the know-how and the local expertise of our partners, create local advantages and economic opportunities and make a significant contribution by byWe support Korea in the achievement of his ambitious 12 GW-offshore wind target, "welcomes the Ørsted CEO Martin Neubert to conclude the declarations of intentions.

Share course from Ørsted cannot benefit

The Ørsted share price cannot currently benefit from the positive reports.In the generally weak stock market environment, the share lost 4.6 percent yesterday to 94.00 euros (24.01.2022, closing course, Stuttgart Stock Exchange).In today's trade, the course of the Renixx Group has so far continued by 3.3 percent to 90.88 euros (25.01.2022, 3:39 p.m., Stuttgart Stock Exchange).

Source: IWR Online