Offshore Wind to Compete with Fossil Fuels -DONG CEO

DONG Energy's Chief Executive Henrik Poulsen said renewable energy like wind will be produced at a lower cost in the future.

 

"I have no doubt that costs of offshore wind and solar energy over time will come down and be at same level as fossil fuels," Poulsen  said. "Our vision is that green energy will be cheaper than conventional energy. It can happen within a decade."

 

"Five years ago the price for producing one megawatt was about 160 euros. We expects to reduce that to around 100 euros per megawatt before 2020."

 

"Production of all types of energy are today in one or another way subsidised by taxpayers."

 

"It is our clear impression the green transition has a pretty strong momentum among. The governments we talks to are committed to reduce CO2 emissions energy."

 

DONG Energy shares jumped as much as 10 percent from the IPO to DKK260 at the first day of trading in Copenhagen on Thursday.