Danish multinational power company Orsted's (formerly DONG) earnings before interest taxes depreciation and amortization (EBITDA) increased by 11% to 9.8 billion Danish Krone ($1.54 billion) in the first half of 2020, compared to the same period last year.
Earnings from offshore and onshore wind farms in operation increased by 17% to Danish Krone (DKK) 8.2 billion ($1.29 billion) driven by ramp-up of power generation from Hornsea 1, Lockett, and Sage Draw wind farms together with high wind speeds.
'Despite the comprehensive health, social, and economic consequences of COVID-19, Orsted has maintained stable operations and strong earnings during 2020. Our asset base has continued to be fully operational and we have maintained normal availability rates on our offshore and onshore wind farms,' said Henrik Poulsen, CEO and President of Orsted.
Poulsen said that the world continues to navigate a health crisis which has a severe impact on the lives and livelihoods of people across the globe as well as on global and local economies.
'In this challenging situation, Orsted continues to focus on the health and well-being of its employees and their families while supporting a stable power supply in the markets where we operate,' he added.
(1 DKK = 0,16$)
By Murat Temizer