Ørsted, an offshore wind developer, will have a novel experience in 2021. Soon any new onshore power plant will involve solar panels. The company, after positioning itself in the offshore wind market, is now focusing on a new opportunity: North America’s sunny skies.
As of today, Ørsted has not completed a major solar project anywhere in the world, however, things will look very different in the coming years. “Solar is the fastest-growing power generation technology in the world,” Vishal Kapadia, CFO Ørsted’s onshore business, said in an interview. He also added that given solar generation shape, it pairs well with storage, and that lends itself to opportunities as well.
When it comes to renewable energy, customers increasingly want a variety of options. And solar is now the biggest game in town. Today, more and more solar projects are being built. That trend is likely to continue because the federal subsidies for wind and solar plants are ready to disappear.
It other statemen Mr. Kapadia said, “I will say that there are simply more opportunities in solar than there have been previously for us”.
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