Second Party Opinion: Ørsted's Green Finance Framework

S&P Global Ratings assesses Ørsted's Green Finance Framework as Dark green, indicating activities that correspond to the long-term vision of a low-carbon climate resilient future. Ørsted A/S, together with its subsidiaries, owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, battery storage, and bioenergy plants.

...Over the three years following issuance of the financing, +rsted expects to allocate approximately 70%-90% of proceeds to offshore wind, 10%-15% to onshore wind, and 5%-10% to solar PV, with the remaining share potentially directed toward battery energy storage systems. The issuer expects 100% of proceeds to be allocated to financing new projects. Based on the project category's Shades of Green detailed below, the expected allocation of proceeds, and considering the environmental ambitions reflected in +rsted's Green Finance Framework we assess the framework as Dark green. Renewable energy Offshore wind Onshore wind Solar PV Battery energy storage systems (BESS)...

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