Ørsted reports strong Q1 earnings on offshore wind growth

Ørsted


Ørsted reported EBITDA excluding new partnerships and cancellation fees of DKK 9.5 billion in the first quarter of 2026, up 11% compared with the same period last year.

The increase was driven mainly by higher offshore wind generation and stronger-than-normal wind speeds.

Offshore generation rose 27% year on year following ramp-up at the Borkum Riffgrund 3 project in Germany and Greater Changhua 4 in Taiwan. EBITDA from Ørsted’s offshore business reached DKK 7.5 billion, up DKK 1.2 billion from Q1 2025.

During the quarter, Ørsted continued work across its 8.1 GW offshore wind construction portfolio. In the US, the company delivered the first power from Revolution Wind to New England and installed the first turbines at Sunrise Wind off the coast of New York.

In Europe, monopile installation began at Hornsea 3 in the UK and Baltica 2 in Poland.
Ørsted said commissioning of the Greater Changhua 2b and 4 offshore wind farms in Taiwan remains on track for the third quarter of 2026.

The company maintained its full-year EBITDA guidance of above DKK 28 billion excluding new partnerships and cancellation fees, alongside gross investment guidance of DKK 50–55 billion.

For more information about offshore wind farm projects across the globe, click here.

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