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Big Oil’s Green Push Has Offshore Wind CEO Looking Over Shoulder

  • Orsted chief Nipper hints at spending plans to stay number one
  • Wind farms at sea crucial to the transition from fossil fuels
Mads Nipper
Mads NipperSource: Orsted A/S

The world’s biggest developer of offshore wind farms plans to ramp up investment to preserve its market-leading position as oil companies eager to boost their green credentials pile into the technology.

“The competition is increasing and, for the world, that’s a great thing. But it will mean that we will have to be on our best game,” Mads Nipper, the new chief executive officer of Orsted A/S, said in an interview. Nipper said the firm is looking at ways of increasing investment levels to keep ahead of the competition.