Denmark’s Ørsted buys US solar-plus-storage specialist

LinkedIn
Twitter
Reddit
Facebook
Email
Orsted has yet to share a MW figure for its new portfolio but it is understood to comprise not-yet-operational projects only. Credit: Orsten.

Ørsted has expanded its footprint in the solar-plus-storage space via the acquisition of a US developer.

The firm, Denmark’s self-styled largest energy group, used a recent Q1 2019 update to reveal an agreement to buy a subsidiary of US-based Coronal Energy.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The statement did not name the subsidiary in question but contacted by sister title PV Tech, a source close to Ørsted identified it as HelioSage Energy.

The deal was to purchase the unit from Panasonic-owned Coronal – which had scooped it up in 2015 – in return for a “low double-digit US dollar million” figure, the source explained, adding that the transaction only completed today.

The deal marks a boost for the US renewable portfolio of Ørsted, known as DONG Energy before its rebranding in 2017.

Prior to the deal, the traditionally wind-focused player only owned a couple of PV projects in the country: the operational 10MW Oak Solar plant in New Jersey plus the 400MW Permian facility in Texas, which is awaiting a final investment decision and is backed by a 250MW PPA with Exxon.

How much capacity will be added via the HelioSage acquisition remains unclear. Other than describing it as “significant”, Ørsted has yet to share a MW figure for its new portfolio. The pipeline doesn’t feature operational projects, only those at the development stage, PV Tech understands.

Elsewhere, the UK was Ørsted’s choice for its first standalone, large-scale battery energy storage project. Operational since January, its 20MW Carnegie Road scheme features lithium battery and power conversation systems from NEC, designed to support a 90MW offshore wind portfolio.

Read Next

July 10, 2025
The US Environmental Protection Agency (EPA) has entered into a settlement agreement with IPP LS Power to direct cleanup after a lithium-ion battery fire at the company’s Gateway energy storage facility in San Diego, California. 
July 10, 2025
AGL Energy has acquired the Yadnarie solar thermal project in South Australia from Photon Energy, featuring 720MWh of LDES.
Premium
July 9, 2025
Coval Infrastructure has become the latest developer to submit an application with the California Energy Commission (CEC), as part of the regulator’s opt-in certification scheme.
July 9, 2025
UK BESS owner Gresham House Energy Storage Fund (GRID) has entered into long-term floor agreements with Statkraft and Markel Bermuda, which will partially replace its toll with Octopus once that expires next year.
July 9, 2025
Neoen Australia has increased the size of the BESS co-located at the 440MWp Culcairn solar PV power plant in New South Wales.

Most Popular

Email Newsletter