After the angst and widespread despair that characterised much of the coverage of the recent climate-change protests in London, there was some good news to report in recent days with regard to the UK’s energy usage.
Selected highlights from the National Grid publication (covered in The Telegraph on the 6th May) included the startling fact that of the 31.45 GW powering the UK on May 5th, none was generated by coal-fired power stations. At Kames, our portfolios have financed many of the companies that have facilitated the transformation in the UK’s energy provision. One of the pre-eminent issuers in this regard is Orsted (formerly known as Dongas), a company that develops, constructs and operates a significant proportion of the UK’s offshore wind farms (the UK is the world leader in offshore wind power, and Orsted is the market leader in the UK, with a pipeline of projects to power over 4.4m homes by 2020).
Having financed Orsted’s remarkable transformation into a supplier of predominantly renewable energy (we participated in the company’s 2012 debt issue), we look forward to engaging with the company over the coming days as it seeks to issue multiple green bonds to consolidate its position as one of the world’s leading providers of wind energy.