The Danish group – which also revealed it needs an injection of “at least” DKr6bn ($1.05bn) of new equity – said the offshore wind target is at the heart of its strategy.

“In the years leading up to 2020, we aim to achieve significant growth, measured in both output and capacity,” the company told shareholders in its annual results statement.

Dong wants to see offshore wind’s cost of energy below €100/MWh by 2020, which it says corresponds to a 30% drop compared to 2011’s figure.

It