Ørsted Implements New Organizational Structure to Deliver Industry-Leading Clean Energy Solutions
Ørsted, a leading global clean energy company, announced today a new organizational structure designed to continue driving growth and meet the evolving needs of renewable energy customers. The new regional structure empowers leadership to capitalize on the trends and demands of each local market. In the United States, Ørsted is bringing together its land-based and offshore wind clean energy businesses as one new organization, the Americas region, led by Executive Vice President and CEO David Hardy.
"The U.S. clean energy market continues to grow rapidly and evolve toward integrated energy solutions that combine technologies to best meet the customer's diverse needs," said David Hardy, Executive Vice President and CEO, Ørsted Americas. "Bringing together the expertise within our Onshore and Offshore teams positions us to not only meet these market demands but also to shape the industry so that we can move our communities and economies to clean energy even faster."
With a rapidly-growing company presence in 16 states and a leading American supply chain network that extends to nearly every state, Ørsted Americas is positioned to continue meeting the evolving needs of the energy sector. The company's U.S. portfolio includes approximately 10 gigawatts of solar, onshore/offshore wind, e-fuels and storage in operation or development and with increasing opportunity on the horizon.
Decarbonizing initiatives continue to gain momentum through corporate ESG goals and ambitious government targets. Ørsted's deep industry expertise, combined with its commitment to lift up communities through clean energy, has positioned the company as a trusted advisor to its customers and a leading green energy transition solutions provider.
For example, Ørsted's U.S. land-based assets invest into local infrastructure and generate millions of dollars in new tax revenues for communities. In offshore wind energy, Ørsted's U.S. team established the industry's first partnership with North America's Building Trades Unions through the National Offshore Wind Agreement (NOWA). NOWA ensures offshore wind energy in the U.S. will be built with a highly-trained and well-paid American workforce, a reflection of Ørsted's values in lifting up communities.
Ørsted started its transformation 12 years ago when the company shifted from an oil and gas company to one fully dedicated to renewable energy. The creation of a new regional organization is the next chapter in this journey and aims to create more local agility for Ørsted's global portfolio. In addition to a shift toward integrated energy solutions, the energy landscape is becoming more complex with increasing and diverse local requirements.
This new structure empowers Ørsted's regions to meet these local customer needs and diverse market opportunities. In addition to offshore wind energy and land-based asset development, Ørsted Americas will maximize opportunity for the company's Power-to-X objectives in the region. With the enactment of the Inflation Reduction Act, the United States is poised to become a global leader in green hydrogen and e-fuels, and Ørsted Americas' onshore strategy includes identifying the most strategic offtake partnerships to help decarbonize hard-to-abate industrial sectors.
"On the heels of the Inflation Reduction Act, the U.S. is poised to accelerate its renewable energy ambitions, ranging from offshore wind energy and land-based assets to green hydrogen and e-fuels," Hardy said. "The combination of our existing portfolio and future opportunities positions us to be one of the largest clean energy investors in the United States, creating jobs, economic opportunity and new infrastructure to position America as a leading clean energy hub to the world."
Mr. Hardy will lead Ørsted Americas, effective November 1, 2022. He currently serves as CEO of Ørsted Offshore North America and joined the company in 2020. A military veteran, Mr. Hardy has nearly three decades of leadership experience, spanning his time in the U.S. Navy on nuclear submarines to executive positions in clean energy and manufacturing at GE, Vestas and Senvion.
Ørsted is currently monitoring the Americas region outside the United States, including Canada, Mexico and South America, as these markets continue to mature and develop opportunities across clean energy technologies.