Our strategy is to continue the transformation of the Group to green energy and to take the lead in the transition to increasingly sustainable energy systems. We focus on building strong positions within attractive niche areas in which we enjoy a competitive advantage. We want to build on our strengths and to create long-term, profitable growth opportunities within renewable energy and business areas characterised by stable and regulated flows of income.
In the coming years, we will continue to invest primarily in offshore wind farms, in the conversion of power stations to sustainable biomass, in intelligent power meters for all customers, and in the continued digitalisation of our business platform.
Safety is an integrated part of our strategy. Whatever we do, we never compromise on safety for our employees and suppliers.
You can find a detailed review of the strategies for the three continuing business units and Oil & Gas on pages 34-44 in our 2016 Annual Report.
Wind Power's objectives are to:
- maintain the position as global market leader
- support profitable growth by realising our current build-out plan for the period towards 2020
- expand installed capacity to 11-12GW (ambition) by 2025 provided that the risk and return profile is sound
- continue to reduce the cost of electricity from offshore wind through industrialisation, economies of scale and innovation.
Bioenergy & Thermal Power's objectives are to:
- continuously strengthen operational excellence
- continue the conversion of Danish CHP plants to sustainable biomass
- phase out the use of coal and stop using coal from 2023
- continue the commercial development of our enzymatic waste technology REnescience
Distribution & Customer Solutions' objectives are to:
- maintain a high level of security of supply and customer satisfaction in our distribution business
- further strengthen competitiveness and customer satisfaction among residential and business customers in our sales business
- optimise our energy portfolio and provide competitive market access
We ensure the progress of our strategy through 11 strategic targets divided into four themes:
- We create value for our shareholders in the form of an attractive return on the capital employed
- We address profound societal challenges by developing green, independent and economically viable energy systems
- We are working at all times to fulfil our customers' energy needs by delivering innovative and efficient energy solutions through our distribution and sales activities, while in Denmark we have the most reliable power supply in Europe
- We never compromise on safety for our employees, and keep a constant focus on being a great and safe place to work with committed, motivated and satisfied employees through continuous training and development