DONG Energy's vision is to lead the energy transformation towards more renewable energy

DONG Energy's vision is to lead the energy transformation towards more renewable energy

  • Overview

    Summary

    The way we produce energy is changing rapidly. Since DONG Energy was formed in 2006, we have transformed from one of the most coal-intensive utilities in Europe to a global leader in renewable energy. We are the world leader in deploying offshore wind, helping to reduce carbon emissions and harvest Europe’s own energy resources. At the same time, we are taking the lead in converting existing coal and gas-fired power stations to sustainable biomass, providing a heat and power supply which is both green and flexible.

    While we expand renewable energy, we recognise that the world still needs oil and gas. That is why we invest in unlocking scarce European oil and gas resources, to keep society running, extend European security of supply and reduce dependence on imported fossil fuels.

    Our mission is to develop and enable energy systems that are green, independent and economically viable.

    Commitment Target(s)
    • 2020 – Reduce CO2 emissions from our electricity and heat generation by 60% compared to 2006, thereby reaching a level of 260g CO2/kWh.

      Limiting climate change and the resulting weather changes requires dedicated efforts to bring down global CO2 emissions. The energy industry accounts for around a quarter of greenhouse gas emissions and therefore has an important role to play.

      In DONG Energy, we are well on our way to reach our CO2 reduction target by converting our power stations from coal and gas to biomass and by deploying offshore wind. In 2014, we had reduced our CO2 emissions by 41%.

      Our own analysis shows that we have reduced our CO2 emissions at a faster pace than our European peers. Being ahead of the pack gives us a strong position in the market for green energy technologies, which attracts competencies and capital to our business.

    • 2020 – Install 6.5GW offshore wind capacity, enough to supply 16 million Europeans with clean electricity.

      Offshore wind is a clean, reliable and scalable solution to how Europe can renew its energy supply in a green direction. Working together with our partners, DONG Energy has become the world leader in deploying offshore wind. We have built more capacity than any other company in the world.

      By continuing to build offshore wind farms we maintain our market leading position and support European countries in building energy systems that are green, independent and economically viable.

    • 2020 – Reduce cost of electricity from offshore wind by 35-40% compared to 2012.

      Offshore wind is still a young and maturing technology, so the potential to reduce costs is there. In 2012, DONG Energy set a target to cut costs by 35-40% for offshore wind projects getting the go-ahead in 2020 and that start to produce from 2023. Offshore wind will then be significantly more competitive with conventional energy technologies if fossil technologies are charged with a fair CO2 cost.

      In order to reach our target, we are standardising offshore wind farm development and choose construction sites that have optimal conditions when it comes to wind speeds, distance to the coast, sea depth and sea bed conditions. In this way, we do not have to reinvent the wheel every time we plan a new wind farm. Meeting our target requires stable regulatory frameworks that allow the industry to scale up so the cost can come down. Cost reductions are necessary for offshore wind to continue its growth.

    • 2020 – At least 50% of the electricity and heat generated from our central Danish power stations must be from biomass.

      Power stations fired with sustainable biomass can fill the gaps when wind speeds drop. At DONG Energy, we convert our power stations from coal and gas to biomass such as wood pellets and wood chips. This extends their lifetime and anchor their role in the transformation towards more renewable energy.

      We operate some of the most flexible and efficient power stations in the industry. Our programme to convert power stations makes us the global leader in the use of biomass. The conversions allow us to stay competitive as supplier of heat and power in Denmark, while providing green heat and power to our customers.

    • Sustainable Development Goals
      1. No poverty; 7. Affordable and clean energy; 9. Industry, innovation and infrastructure; 10. Reduced inequalities; 11. Sustainable cities and communities; 12. Responsible consumption and production; 13. Climate action; 14. Life below water; 15. Life on land
      Issue areas
      Biodiversity; Climate Change; Energy; Poverty; Principle 7; Principle 8; Principle 9
      Industry sector(s) that apply to this commitment
      Alternative energy; Electricity; Oil & gas producers
      Country(s) where this commitment will be implemented
      GLOBAL

      Partners

      Names of committing organisations Names of additional partners

      Investors, suppliers, industry peers, etc.

      Note: All organisations listed above are accountable for the commitment made. These organisations are required to complete an annual communication on progress for the duration of the commitment, either jointly or individually, as laid out in the accountability section of the submission form.