Orsted Eyes Europe and APAC Revenue Growth

Why It Matters

The strategy signals Ørsted’s shift toward collaborative growth and disciplined capital allocation, reshaping competitive dynamics in the offshore wind sector across its core markets.

Key Takeaways

• Ørsted targets partnerships in Europe, APAC for growth
• 8.1 GW construction pipeline ends 2027, new capacity sought
• €8 bn rights issue and €6.2 bn divestments completed
• 2,000 jobs cut by 2027 to improve efficiency
• No new US lease acquisitions planned

Pulse Analysis

Ørsted’s move to seek partnerships and acquisitions reflects a broader industry trend where scale alone no longer guarantees profitability. As offshore wind projects mature, developers are turning to collaborative models that spread risk, unlock new financing pathways, and accelerate technology deployment. By focusing on fixed‑bottom turbines in Europe and the fast‑growing APAC market, Ørsted can tap into regions with supportive policy frameworks and robust supply chains, positioning itself as a value‑creating hub rather than a pure volume builder.

The company’s recent financial maneuvers underscore a disciplined capital strategy. An €8 bn rights issue bolstered its balance sheet, while a €6.2 bn divestment programme trimmed non‑core assets, freeing cash for strategic investments. Coupled with a planned reduction of 2,000 staff positions by 2027, Ørsted aims to lower operating costs and improve EBITDA margins. These actions not only enhance resilience against construction slow‑downs but also signal to investors a commitment to sustainable profitability.

Looking ahead, Ørsted’s focus on upcoming auctions in Denmark, the Netherlands, Belgium, the UK, Taiwan, South Korea and Australia highlights its intent to dominate high‑value, policy‑driven markets. By explicitly excluding further US lease acquisitions, the firm concentrates resources where regulatory certainty is higher. This geographic prioritization is likely to influence competitive bidding dynamics, encouraging other developers to form consortia or pursue joint ventures to match Ørsted’s strategic depth and financial muscle.

Orsted eyes Europe and APAC revenue growth

6 February 2026

Orsted is mulling potential partnership agreements with offshore wind developers plus mergers and acquisitions of new projects in a bid to secure further revenue growth towards the end of the decade.

Group president and chief executive Rasmus Errboe told investors that striking deals with other outfits could help Orsted to deliver additional capacity and boost earnings once its current 8.1 GW offshore construction portfolio is completed by the end of 2027.

Little detail was given on how any partnerships could be structured. However, Errboe said collaborations could be on the cards as part of the Danish giant’s assessment of future opportunities for fixed‑bottom schemes within core markets in Europe and the APAC region.

“We are in a position to be able to create value‑accretive opportunities,” said Errboe.

“We have the structure to be able to cater for a slight dip in construction at the end of the decade.

“Our focus is on core markets. (But) it becomes too speculative for me to get into what kind of partnerships they could be.

“We are not chasing gigawatts. It is value over volume, and we do believe the opportunities are out there.”

The Orsted chief confirmed the company is also studying auctions and tenders slated for later this year in Denmark, the Netherlands, Belgium, the UK, Taiwan, South Korea and Australia as attention turns towards delivering on strategic priorities for this year.

It follows a 2025 that was heavily dominated by efforts to strengthen the developer’s capital structure as Orsted reported today (6 February) a net profit of €420 million for the full year and EBITDA within its guided range.

Those efforts include the successful completion of an €8 bn rights issue, finalisation of a €6.2 bn divestment programme and confirmation of a restructuring plan to reduce Orsted’s headcount by 2,000 positions by the end of 2027 to improve cost efficiency.

Errboe emphasised Orsted would adopt a “disciplined approach” to future capital allocation, as demonstrated by the decision to discontinue the 2.6 GW Hornsea 4 wind farm off east England last year and “re‑configure” it for potential future development.

He ruled out any moves that would increase Orsted’s exposure to the US market, however, where it has resumed offshore construction on the 704 MW Revolution Wind and 924 MW Sunrise Wind projects following the granting of preliminary injunctions against government‑issued lease suspension orders.

“We maintain the leases we have and continue to apply them but have no expectation to acquire anymore in the US,” he added.