Dong, biggest single investor in UK offshore wind, says profits from its renewables overtaking oil and gas receipts
Booming profits from British windfarms have more than made up for declining oil and gas revenues at Dong Energy, a state-owned Danish utility which says it is transforming itself from a high to low-carbon power producer.
Dong, the biggest single investor in UK offshore wind projects, including the huge London Array windfarm off Kent, reported first-quarter profits of Kr 8bn (£836m), a sum that was up 35% on the same period last year.
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