Ørsted, world’s largest wind developer, sees growth opportunities in current market upheaval

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Ørsted A/S, the world’s largest wind farm developer, is sticking to its growth strategy and financial guidance amid the coronavirus pandemic and said it could even eke out an advantage as others in the market step on the brakes.While the Danish utility has put into place cautionary measures to help buffer the impact of the crisis, including increasing its provisions and conducting wide-ranging risk assessments on new projects, executives said the company’s EBITDA guidance range for 2020 of between 16 billion kroner and 17 billion kroner will remain intact, and its appetite for building new projects will stay strong.“We believe financially robust companies that maintain a long-term view on the market are likely to find additional opportunities in the wake of the current crisis,” CEO Henrik Poulsen said April 29 on the company’s first-quarter earnings call.Ørsted saw substantial earnings growth during the first quarter, largely powered by strong wind resources. “We are in a much less vulnerable position than many other sectors that regrettably are deeply impacted by this crisis,” Poulsen said. “However, the impact of COVID-19 will have material ripple effects throughout all economies and sectors. And you can rest assured that we will not be complacent about its potential impact on Ørsted.”In the short term, however, several Ørsted projects risk construction delays due to supply chain disruption, specifically because tools were laid down at a shipyard in Singapore that was building substations for the Hornsea 2 and Greater Changhua offshore wind farms. Deliveries of solar panels for the Permian Energy solar project in the U.S. are also delayed, Poulsen said.Despite this, Ørsted’s appetite for taking new projects remains strong. “We are still looking into a very significant number of auctions and tenders in 2020 and 2021 as most countries and states stick to the original timeline despite the COVID-19 situation,” Poulsen said.[Camilla Naschert]More ($): Ørsted doubles down on growth ambitions as others retreat due to COVID-19 Ørsted, world’s largest wind developer, sees growth opportunities in current market upheavallast_img read more

Throwback theme to best appearing car contest at LVMS’ Duel In The Desert

first_imgLAS VEGAS, Nev. – Ready to show off at Las Vegas Motor Speedway?Enter your IMCA Modified or Karl Chevrolet Northern SportMod in the throwback-themed Duel In The Desert IMCATV Best Appearing Car Contest hosted by the School of Racing Graphics.Prizes for drivers and designers alike are among the new twists for the 2017 contest.Both divisions will be combined for judging. Both the designer and driver of the overall winning car receive a year’s subscription to IMCATV; the driver gets $750 cash, the design a $750 credit from SRGFX.Second place is good for a six month’s subscription to IMCATV, $500 for the driver and a $500 SRGFX credit to the designer; third place is good for a three-month subscription to IMCATV, $250 to the driver and a $250 SRGFX credit for the designer.“The purpose of this contest is to challenge the skills of wrap designers and painters. Graphic designers must enter the car (by midnight CST on Nov. 5) and can do so through the schoolofracinggraphics.com/duel-in-the-desert-best-appearing-2017 link,” IMCATV’s Barry Braun explained. “Designs can be wrapped, vinyl cut, hand painted or airbrushed and will be judged by a panel of the top designers in the motorsports industry.”“The design must be completely new and unique to the Duel in the Desert,” he added, “and have a throwback or nostalgic theme to qualify for submission.”last_img read more