Successful North Sea Summit: Ørsted Welcomes Offshore Wind Pact as a Milestone for Europe’s Energy Supply

Fredericia (Denmark) - Yesterday (26 January 2026), the North Sea Summit 2026 took place in Hamburg at the invitation of German Chancellor Friedrich Merz and Federal Minister for Economic Affairs Katherina Reiche.

Ørsted has welcomed the “Joint Offshore Wind Investment Pact for the North Seas”, signed on the sidelines of the summit, as an important milestone for the European energy transition. The pact, agreed by governments together with the wind industry and transmission system operators (TSOs), is intended to significantly accelerate the expansion of offshore wind capacity in the North Sea.

“The Joint Investment Pact is a giant leap towards powering Europe with renewable, reliable, and cost-competitive electricity”, said Ørsted CEO Rasmus Errboe. The pact confirms the target of 300 GW of offshore wind capacity by 2050 and at the same time sets an expansion pathway of up to 15 GW per year in Europe. For Ørsted, this is a signal to continue investing in its core markets in the future.

Errboe emphasized that Ørsted already concentrates a large share of its offshore activities in Europe: “Europe is our core market - with 35 years of experience and about 90 % of our operating capacity based here, our offshore wind portfolio already produces enough electricity to power around 22 million Europeans, and we’re ready to add to this number.”

For Ørsted, the agreement is a clear signal supporting its strategic focus on offshore wind in Europe and long-term planning certainty in a key growth market.

Following its sharp rise yesterday, Ørsted’s share price continued its upward trend in today’s trading session. The stock is currently up 0.9 percent at EUR 19.16.

Source: IWR Online, 27 Jan 2026