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Ørsted Sets Up Trading Office in the US

Power News - Published on Tue, 12 Nov 2019

Image Source: orstedcdn
Ørsted is expanding rapidly in the US within the development and construction of offshore and onshore wind power as well as solar PV. The growing portfolio enables Ørsted to increasingly trade the green power generated by the wind and solar farms. Therefore, Ørsted is now setting up a trading office in Chicago which will be trading power in the wholesale markets. The new Ørsted trading office in Chicago opened in October and expects to start trading power in November. Initially, Ørsted's traders will primarily trade power generated by Lincoln Clean Energy's onshore wind farms. Mr Morten Hultberg Buchgreitz, Executive Vice President of Ørsted said that with a trading office in the US, we'll be able to reduce risks and ensure higher transfer prices on the power generated by our solar and onshore wind farms.

In August 2018, Ørsted acquired Lincoln Clean Energy, thereby obtaining a strong foothold in the US onshore wind power market. Today, the company has 1GW of onshore wind power in operation in the US, 670MW under construction across three states and further 2.5GW of wind and solar projects in the pipeline.

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Posted By : Arun Huidrom on Tue, 12 Nov 2019
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