Ørsted to focus more on projects in Taiwan and South Korea

Ørsted is set to increase its investments in Taiwan and South Korea – where the energy developer has already been awarded several projects – more than in any other Asian markets, says Per Mejnert Kristensen, head of Ørsted’s Asia-Pacific business, at the Energy Asia 2025 conference according to Reuters.

“I think our primary focus now will be to focus on the key markets that we’ve chosen to win in,” Mejnert Kristensen tells the news agency.

Ørsted is currently in the process of rebuilding investor confidence after the company had to withdraw its 2030 capacity target of 35-38GW.

The energy developer currently operates 10GW of offshore wind power globally, of which 0.9GW is in Taiwan. In addition, Ørsted has several projects in the pipeline in South Korea and Australia.

”We know we’re in an environment that can change. We need to see projects that are clearly suitable for investment,” says the regional director, adding that he hopes other countries in Asia will follow Taiwan’s legislation in this area.

”They have managed to create good conditions for offshore wind. They have relatively shallow water, so you can put fixed offshore wind farms in the sea. And on the political side, they have had a very early and clear ambition, and they have managed to create a framework for offshore wind that has made the projects suitable for investment,” he continues.

Against this background, several international investors and local partners see a basis for Taiwan as worth investing in for the next 30 to 50 years, according to Mejnert Kristensen.

(English edit by Kristoffer Grønbæk)