Wind Farm Developer Gets Profit Boost from Burning Coal
- Orsted raised its 2022 outlook thanks to coal-burning plants
- Europe is turning to coal for energy security this winter
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One of Europe’s greenest utilities, Orsted A/S, is set to make more money this year thanks in part to burning more coal as Europe turns to the polluting fuel to provide energy security.
While Orsted mostly generates electricity from an increasing fleet of wind farms at sea, it also has plants that produce power and heat from burning coal and biomass that have become more profitable as European power prices soar. Coal has become an increasingly important fuel in Europe this winter even as the bloc moves to phase out its use in the longer term to support its ambition to cut greenhouse gas emissions.