-- Orsted said Wednesday its renewable energy generation in Q1 reached a record high, with power generation from offshore wind farms and onshore energy assets rising 16% year over year to 11.3 terawatt-hours, driven by project ramp-ups and higher wind speeds.
Power generation from offshore wind sources was up 27% versus year-ago levels to 6.9 TWh, helped by a 10% rise in wind speeds and ramp-up at Borkum Riffgrund 3 in Germany and Greater Changhua 4 in Taiwan.
Power sales from this segment correspondingly grew to 6.3 TWh over the year from 4.8 TWh.
The offshore segment generated 21.29 billion Danish kroner ($3.35 billion) in revenue during the quarter, a 45% jump from the previous year's 14.64 billion kroner.
Meanwhile, Orsted's onshore wind and solar assets produced 4.4 TWh of power in Q1, a 3% rise from a year earlier, driven by the commissioning of Badger Wind in the US and Bahren West 1 in Germany.
The onshore segment posted a 5% increase in revenue year over year to 886 million kroner.
The company's bioenergy and other assets posted a 9% growth in heat generation to 3.5 TWh and a 6% decline in power output to 1.4 TWh.
The segment's gas sales improved by 19% to 6.3 TWh, and its power sales inched up 9% to 686 gigawatt-hours.
Correspondingly, the segment recorded a 3% rise in revenue to 5.51 billion kroner.
Orsted also said it "made significant progress on its construction projects across three continents."
In the US, it delivered the first power from the Revolution Wind project to New England and installed the first wind turbines at Sunrise Wind outside New York.
In Europe, it has begun installing foundations for Hornsea 3 in the UK and Baltica 2 in Poland.
In Taiwan, it said the offshore wind farms Greater Changhua 2b and 4 remain on track for commissioning in Q3.
The Danish state is a majority shareholder in Orsted with a 50.1% stake, and Norway's Equinor (EQNR) is the second-largest shareholder with a 10% stake.
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