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Orsted ( (DOGEF) ) just unveiled an update.
Ørsted has entered into an agreement with Cathay Life Insurance, allowing the latter to acquire a 50% stake in the 583 MW Greater Changhua 4 Offshore Wind Farm. This partnership not only emphasizes Ørsted’s strategic expansion in Asia Pacific but also highlights a significant investment milestone for Cathay Life in Taiwan’s renewable energy sector, backed by international financial institutions. The deal, valued at approximately DKK 11.6 billion, will see Ørsted continuing to manage the construction and long-term operations, further cementing its role as a leader in offshore wind development.
More about Orsted
Ørsted is a Denmark-based company recognized for its extensive work in renewable energy, including offshore and onshore wind farms, solar farms, and bioenergy plants. It aims for a global transition to green energy, and its commitment is underscored by its recognition on the CDP Climate Change A List and its science-based net-zero emissions target. Ørsted operates internationally, employing approximately 8,400 people and generating revenue of DKK 79.3 billion in 2023.
YTD Price Performance: -6.57%
Average Trading Volume: 757
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $21.61B
For an in-depth examination of DOGEF stock, go to TipRanks’ Stock Analysis page.
