DONG Energy, UK's largest energy company, has announced its plan to use cashflow from its exploration and production division to fund investment in clean energy, focusing on offshore wind, bioenergy and green distribution. The announcement followed the completion of a strategic review of its oilfield exploration and production business, the company added that the new strategy would reinforce the firm's position as a "global leader in renewables". This follows last months announcement that Dong Energy plans to spend £6bn on developing offshore wind farms in the Denmark by 2020.
DONG Energy, Denmark's largest energy company, has announced its plan to use cashflow from its exploration and production division to fund investment in clean energy, focusing on offshore wind, bioenergy and green distribution. The announcement followed the completion of a strategic review of its oilfield exploration and production business, the company added that the new strategy would reinforce the firm's position as a "global leader in renewables". This follows last months announcement that Dong Energy plans to spend £6bn on developing offshore wind farms in the UK by 2020.