Published by Global Banking & Finance Review®
Posted on June 16, 2025
2 min readLast updated: January 23, 2026
Add as preferred source on GoogleOrsted shifts focus to Taiwan and South Korea for wind investments, citing existing projects and favorable conditions over new Asian markets.
By Sudarshan Varadhan and Ashley Tang
KUALA LUMPUR (Reuters) - Orsted, the world's biggest offshore wind developer, will increase investment in Taiwan and South Korea where it has already been awarded projects, instead of expanding to new markets in Asia, a senior company official told Reuters on Monday.
Rising costs, supply chain disruptions and loss of investor confidence in offshore wind have resulted in the Danish company losing around 80% of its market value from its 2021 peak.
"I think our main focus is now to double down on the key markets that we have chosen to win in," Per Mejnert Kristensen, Orsted's Asia-Pacific president told Reuters on the sidelines of the Energy Asia 2025 conference.
Orsted, the biggest offshore developer by capacity, withdrew its previously set 2030 target for installed renewable capacity of 35-38 gigawatts this year, and Chief Executive Rasmus Errboe faces the challenge of reviving investor confidence and meeting the new realities of the offshore wind industry.
The company operates 10 gigawatts (GW) of offshore capacity globally, including 0.9 GW in Taiwan. It also has prospective projects in South Korea and Australia in various stages of development.
"We know that we are in an environment that can change. We need to see clearly investable projects," Kristensen said, adding that he hoped other Asian countries emulate the Taiwan government's policies.
"They have very good wind conditions for offshore wind. They have relatively shallow water, so you can put fixed bottom offshore wind parks in the ocean. And then on the political side, they had very early and clear ambition, and then they managed to make some offshore wind frameworks that made the projects investable," he said.
As a result, international investors together with local partners in Taiwan could clearly see a pathway that would make it worthwhile to invest for the next 30-40-50 years, he said.
"While the political ambition is there (in some other countries), it's not all places where they've managed to translate that into commercially viable frameworks," he said.
(Reporting by Sudarshan Varadhan; Editing by Susan Fenton)
Orsted plans to increase investment in Taiwan and South Korea, where it has already been awarded projects, rather than expanding into new markets.
Orsted has experienced rising costs, supply chain disruptions, and a loss of investor confidence, leading to an 80% decline in its market value since its 2021 peak.
Taiwan offers good wind conditions, relatively shallow waters for fixed bottom offshore wind parks, and a supportive political environment that encourages long-term investment.
Orsted operates 10 gigawatts of offshore capacity globally, including 0.9 gigawatts in Taiwan.
Taiwan's government policies provide a clear pathway for international investors, making it worthwhile to invest in the region for the next 30-50 years.
Explore more articles in the Headlines category
