Orsted achieved an operating profit of DKK 18.1 billion ($2.93 billion) in 2020, up 4% compared to 2019, according to an interim report released on Wednesday.
The increase in power generation drove the 14% increase in earnings from offshore and onshore wind farms in operation to DKK 16.9 billion.
"We closed the divestment of our Danish power distribution, residential customer, and city light businesses. The transaction resulted in proceeds of DKK 20.5 billion and a gain of DKK 10.9 billion, which will be deployed into our global renewable energy build-out plan," the company said.
According to the company, its green share of heat and power generation continued to increase and reached an all-time high of 90% in 2020, driven by the continued ramp-up of offshore and onshore wind farms.
"Orsted delivered a strong set of results in 2020, both operationally and financially. Despite the challenges posed by COVID-19, our colleagues have done an outstanding job to keep our energy production assets fully operational at normal availability rates," said Mads Nipper, CEO of Orsted.
US$1 equals DKK 6.18
By Murat Temizer