Danish wind farm developer Ørsted reported a 19% increase in EBITDA, excluding new partnerships and cancellation fees, for the first nine months of 2026, it said in a statement.
EBITDA came in at DKK 20.2 billion for the period, compared with DKK 17 billion in the same period a year ago, with the increase largely driven by increased generation from newly-commissioned offshore wind farms, higher prices, and higher wind speeds across its portfolio.
The group said that it remains ‘on track’ to deliver its full-year EBITDA guidance of more than DKK 28 billion, excluding new partnerships and cancellation fees.
‘Strong financial performance’
“We continue to deliver on our strategic priorities, which is translating into consistent strong financial performance,” commented Rasmus Errboe, Ørsted chief executive.
“We’ve maintained industry-leading execution across our construction pipeline, adding 1.8 GW of renewable energy capacity in Europe and the US over the past few months, supporting energy security, competitiveness, and decarbonisation. Our results underline our ability to deliver on our strategic priorities as planned while continuing to pursue attractive growth opportunities in our core markets. We’re well positioned to deliver a strong year for Ørsted.”
In the third quarter, Ørsted added 1.8GW to its installed renewable energy capacity, bringing the total to 19.5GW. Its offshore assets delivered 15.7TWh of renewable electricity during the first nine months of the year, an increase of 22% compared to the same period a year ago.
It added that its Borkum Riffgrund 3 offshore wind farm in Germany and Revolution Wind in the US have now both reached commercial operation, while it also reached ‘several key milestones’ in the construction of its offshore wind portfolio in Taiwan, Poland, the US and the UK.
In the UK, Ørsted installed the second and final offshore converter at Hornsea 3, which has been described as the ‘world’s largest offshore wind farm project’, while in the US, the installation of all wind turbine foundations at its Sunrise Wind project was completed.
‘The remaining construction portfolio continues to progress according to schedule and on budget,’ it noted.
Gross investments
Gross investments for the first nine months of the year amounted to DKK 28.5 billion, compared with DKK 39.9 billion a year earlier. Of this amount, DKK 26.3 billion was invested in offshore wind projects under construction.
For the full year, gross investments of between DKK 45 billion and DKK 50 billion are expected, which is DKK 5 billion below its previous guidance. ‘The lowered expected gross investments in 2026 are due to changed timing of payments for certain offshore wind construction projects,’ it noted. ‘The total project investments are not expected to change.’ Read more here.
