Orsted has reported a 13 % rise in Q1 earnings from offshore wind farms , two years after selling its upstream oil and gas business to focus on renewables . The offshore wind division accounted for nearly four - fifths of the Danish company 's annual earnings in the quarter . Q1 earnings before interest , taxation , depreciation and amortisation fell 7 % . However , this was because Orsted benefited from a one - time gain from an offshore case in march 2018 , as well as having lower earnings from its remaining offshore business . Orsted will invest $ 300 in renewable energy by 2025 to continue its shift away from oil and gas .
Orsted has reported a 13% rise in Q1 earnings from offshore wind farms, two years after selling its upstream oil and gas business to focus on renewables. The offshore wind division accounted for nearly four-fifths of the Danish company's core earnings in the quarter. Q1 earnings before interest, taxation, depreciation and amortisation fell 7%. However, this was because Orsted benefitted from a one-time gain from an arbitration case in Q1 2018, as well as having lower earnings from its remaining gas business. Orsted will invest $30bn in renewable energy by 2025 to continue its shift away from oil and gas.