A Wind Energy Stock for Offshore Wind Power

In our recent article titled “Wind Power Quietly Leads Solar Power,” we talked about how wind power is undeservedly being overlooked in favor of solar in the media. Most people may not know that wind – with subsidies removed – is one of the cheapest sources of electricity at the moment. Maybe that’s why the biggest electrical utility company in the world is producing 69% of their clean energy using land-based wind power. As for offshore wind power, it’s more expensive than land wind power, but that’s changing. Offshore wind capacity has grown by 32% over the course of 2017 with record investments into new offshore wind power. The industry expects further cost reductions of 30-50% over the medium term, thanks to increased competition, larger turbines, and economies of scale, all of which should serve to accelerate adoption. One company that’s capitalizing on offshore wind like no other is a Danish firm called Ørsted.

Who is Ørsted?

The biggest power company in Denmark is a $33 billion renewable energy firm called Ørsted (ORSTED) that built – and now operates – the largest offshore wind farm in the world. Formerly known as DONG Energy (an abbreviation of Dan