Ørsted powers through pandemic

first_imgPower generation from offshore and onshore wind increased by 42 per cent and totalled 9.8 TWh in the first half of 2020, mainly due to the ramp-up of generation from Hornsea One, Lockett and Sage Draw, and to some extent the Borssele 1 & 2 offshore wind farm, as well as higher wind speeds throughout the period. Power generation offshore increased by 36 per cent to 7.2 TWh for the period compared to H1 2019 when it stood at 5.3 TWh. “Despite the comprehensive health, social, and economic consequences of COVID-19, Ørsted 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,” Henrik Poulsen, CEO and President of Ørsted, said. The wind speeds in the first half of 2020 averaged 10.1 m/s, as compared to 9.2 m/s in the same period a year earlier. The production-based availability offshore amounted to 93 per cent, up one percentage point compared to the same period last year. The earnings, which stood at DKK 8.2 billion (EUR 1.08 billion), were driven by the ramp-up of power generation from the Hornsea Project One offshore wind farm, and Lockett and Sage Draw onshore wind farms, together with high wind speeds. World’s leading offshore wind developer Ørsted reported a 17 per cent increase in earnings from offshore and onshore wind farms in operation in the first half of 2020.center_img ”We have however seen negative COVID-19 related effects on European power markets, especially in the UK, driven by lower demand for electricity. The negative impact on our Q2 earnings was approx. DKK 150 million. A contained impact which does not change our full-year expectations.” The revenue from offshore wind farms for the period was DKK 17.3 billion, with gross investments amounting to DKK 7.1 billion. Overall, Ørsted’s operating profit (EBITDA) amounted to DKK 9.8 billion, an 11 per cent increase compared to the same period last year. The EBITDA guidance for the year is unchanged and stands at DKK 16-17 billion in 2020. The expectations of gross investments were lowered by DKK 2 billion to DKK 28-30 billion in 2020 due to the changed timing of payments. Net profit amounted to DKK 2.5 billion and return on capital employed (ROCE) came in at eleven per cent. The company’s green share of the heat and power generation increased from 82 per cent to 88 per cent.last_img read more

Pacquiao gives away cars on 40th birthday

first_imgManny Pacquiao takes a break from training to party.Manny Pacquiao is known for two things: boxing greatness and generosity.The only boxer to win belts in eight weight divisions celebrated his 40th birthday Monday by giving away cars, motorcycles and home appliance to his townmates in General Santos City.ADVERTISEMENT Pacquiao has also established himself as a political heavy hitter after being named campaign manager for PDP Laban candidates in the 2019 midterm elections.Zonio said 12,000 tickets were distributed for the party while wide screens will beam the party happenings for those unable to get in.Sports Related Videospowered by AdSparcRead Next MOST READ Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew NLEX sending Desiderio, Tratter to Blackwater for Erram ‘Mia’: Rom-com with a cause a career-boosting showcase for Coleen Garcia Japeth Aguilar embraces role, gets rewarded with Finals MVP plum No.13 lucky for Orlando Bloom On a break from his training camp, ahead of the Jan. 19 fight against Adrien Broner in Las Vegas, the senator raffled off prizes in a local mall, according to his aide Aquiles Zonio.On the eve of his birthday, he was seen giving away grocery items to thousands of the city’s poor residents, something that has been a tradition even when he is in the United States training.FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSJapeth Aguilar wins 1st PBA Finals MVP award for GinebraSPORTSGolden State Warriors sign Lee to multiyear contract, bring back ChrissBut for family and friends, Pacquiao threw the “the biggest birthday bash ever” on Monday night.His guest list included no less than President Duterte and other personalities in politics and show business. View commentscenter_img LATEST STORIES Gretchen Barretto’s daughter Dominique graduates magna cum laude from California college Ginebra beats Meralco again to capture PBA Governors’ Cup title Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew Nadine Lustre’s phone stolen in Brazil Don’t miss out on the latest news and information. After winning title, time for LA Tenorio to give back to Batangas folklast_img read more