Global Markets

Cost of energy reduction key to transition – Ørsted

Ørsted’s Jakob Bøss explains how the company formerly known as DONG has managed to make profits from abandoning oil and gas and turning to green energy Ørsted’s Jakob Bøss explains how the company formerly known as DONG has managed to make profits from abandoning oil and gas and turning to green energy.
By Silvia Favasuli 6 November 2017 0 28248
Wind turbines in denmark Wind turbines at the Avedøre power station in Denmark. (Ørsted )

Ørsted, previously known as DONG Energy, has become the first oil and gas company to completely shift to renewables. The Danish firm became the world’s biggest owner of offshore wind farms after installing its 1,000th turbine in autumn 2016 and sold its remaining hydrocarbon business to petrochemical company Ineos in spring 2017. The transformation was completed last week when DONG adopted a new name, Ørsted – a tribute to the scientist who discovered electromagnetism in 1820. Jakob Bøss, head of stakeholder relations at Ørsted, spoke to...