Q2 2021 Financial Highlights and Offshore Wind Build-Out Plan
Offshore
-
Financial highlights
FINANCIAL HIGHLIGHTS
EBITDA
Q2 2021 Q2 2020
A
FY 2020
FY 2019
A
Wind speed
(m/s), offshore wind farms
DKKm
7,527
2,361
219%
14,750
15,161
(3%)
•
Sites, O&Ms and PPAs
2,368
2,578
(8%)
15,476
13,750
13%
•
Construction agreements and
12.5
10.5
9.9
9.8
9.4*
8.4
8.6
7.8
5,648
396
n.a.
divestment gains
1,593
3,765
(58%)
• Other, incl. project
development
(489)
(613)
(20%)
(2,319)
(2,354)
(1%)
KEY BUSINESS DRIVERS
Q1
Q2
Q3
Q4
FY
Power generation
TWh
2.5
2.6
(4%)
15.2
12.0
27%
Wind speed
m/s
7.8
8.4
(7%)
9.8
9.2
7%
Availability
%
93
Load factor
%
29
22
95
55
(2%p)
94
93
1 %p
■ 2020 ■2021 "Normal wind year"
The wind speed indicates how many metres per second the wind
has blown in the areas where we have offshore wind farms. The
weighting is based on our generation capacity
32
32
(3%p)
45
42
3%p
* Indicates m/s for full year 2021 (if Q3 and Q4 follows the
normal wind year)
Decided (FID) and installed
GW
9.8
9.9
(1%)
9.9
9.9
0%
capacity*
Installed capacity*
GW
7.6
6.8
12%
7.6
6.8
11%
Generation capacity**
GW
4.0
3.8
5%
4.4
3.6
21%
In Q2 2021, we aligned our definition of installed capacity, hence all assets (installed or FID'ed) are reported using nameplate capacity. Previously a few wind farms were using 'power optimised capacity' or 'export cable limit capacity'
We have improved the accuracy of our offshore wind speed calculations in 2021 and restated 2020 wind speed data to support comparison. In 2021 we have used an improved input data set for calculating wind speeds for offshore
wind farms. Previously individual wind speed measuring points covered several wind farms and were reported for an average hub height. Now each offshore wind farm has its own specific wind speed measuring point for the actual
wind farm height. For comparison reasons we have also updated the actual and normal wind speed data reported for 2020 using the new more detailed wind speed datasets.
* Installed capacity: Gross offshore wind capacity installed by Ørsted before divestments
28
** Generation capacity: Gunfleet Sands and Walney 1 & 2 are consolidated according to ownership interest. Other wind farms are financially consolidated
OrstedView entire presentation