In mid-August, Ørsted shut down the large Swedish PtX project Flagship One, which triggered a loss of 1.8 billion DKK. Now Ørsted is withdrawing from another large project with green fuels. This time it is the 150 MW project at Idomlund near Holstebro, which can eventually be scaled up to three GW. Ørsted was a partner with Skovgaard Energy on the project, but has now dropped the investment in the project's first phase. The company states this in an email to Finans.
"If we are not able to ensure sufficient value creation within a specific technology or a specific development opportunity, we will reallocate the capital to other technologies and opportunities," Ørsted writes to the media.
However, the project is not dead, because Skovgaard Energy intends to continue on its own, says the company's director Niels Erik Madsen, who has no further comment on Ørsted's withdrawal from the project.
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