Global renewables giant Orsted at its capital markets day unveiled upgraded financial forecasts of higher profitability, operational earnings and growth through 2027, helped by ‘political tailwinds’ in the US and Europe.

Since its last CMD in 2021, unprecedented political backing has emerged, such as the transformative incentives granted under the US Inflation Reduction Act and the EU’s Net Zero Industrial Act, the Denmark-based offshore wind champion said – which both push up the renewables industry’s growth potential.