Lincoln Clean Energy becomes Ørsted
Published by Sarah Smith,
Assistant Editor
Energy Global,
In October 2018, Ørsted acquired Lincoln Clean Energy (LCE), an onshore developer with assets primarily in Texas, US. Over the past year, areas of the business have been systematically integrated to ensure an effective operating model capitalising on the capabilities from both companies.
Since the acquisition, LCE has made significant progress, building its position as a multi-state developer with a strong portfolio of projects in operation, under construction and under development. The operational portfolio has doubled since the acquisition to 1 GW, and with 1.1 GW currently under construction, it will double again in 18 months. In addition, Ørsted operates America's first offshore wind farm and has been awarded 2.9GW offshore wind capacity through six projects.
Effective immediately, LCE will officially change its name to Ørsted and become part of the Ørsted organisation. This rebrand, combined with the recent appointment of Declan Flanagan as Chief Executive Officer Onshore at Ørsted and member of Ørsted's Executive Committee, represents the growing global presence of the Ørsted business and the importance of activities in North America.
Ørsted supplies more than 13 million homes with clean energy from its offshore and onshore wind farms and solar farms in operation. The ambition is to supply 50 million homes with clean energy by 2030.
Read the article online at: https://www.energyglobal.com/special-reports/27122019/lincoln-clean-energy-becomes-rsted/
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