At that time, the cost of offshore wind energy was significantly higher than energy from fossil fuels, but we saw an opportunity for the future. Through our focus on innovation, we’ve increased the scale of our offshore wind farms with technological advances and improvements to installation methods, foundation designs, logistics and digitalization. In 2019, Ørsted completed construction of the world’s largest offshore wind farm, Hornsea 1, that is capable of providing renewable energy to over 1 million homes. Throughout this journey, we’ve helped to continually drive down operational costs at each stage of development so that today, offshore wind energy is cheaper than fossil fuels in an increasing number of markets globally.
Finish reading this story in the virtual issue of ON&T May 2021.
By Neil Hamel, Head of US Innovation & Venture Hub, Ørsted
