By Dominic Chopping

Orsted said Friday that it has signed an agreement with Irish utility ESB to jointly develop an Irish offshore wind portfolio.

Under the deal, the Danish renewable-energy company becomes a 50/50 partner in a pipeline of offshore wind development projects off the Irish coast, which have the potential to deliver up to five gigawatts of renewable energy and complementary renewable hydrogen projects.

The partnership also encompasses an agreement to explore opportunities from renewable hydrogen produced from the projects in the longer term, it said.

The Irish government has a 2030 target of installing seven gigawatts of offshore wind.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

June 02, 2023 07:30 ET (11:30 GMT)