Orsted is putting its Danish power distribution and residential supply businesses up for sale, as the Denmark-based company accelerates its transformation to a global renewables group focused on offshore wind.
Orsted said it will test interest in acquiring the domestic power operations, along with its City Light street lighting business, which don’t contribute to its long-term international growth strategy.
The company said in a statement that a strategic review carried out by senior management concluded that “the continued technological innovation in green energy is expected to translate into continued cost reductions and a gradual decrease in subsidies on the journey towards producing and selling green energy entirely on commercial terms.
