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Energy

Wind farm developer Orsted to increase investment to boost capacity

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General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool, Britain September 5, 2018. REUTERS/Phil Noble//File Photo

COPENHAGEN, June 2 (Reuters) - Orsted (ORSTED.CO), the world's largest offshore wind farm developer, on Wednesday said it will boost its investment in an effort to more than quadruple its capacity over the next decade.

The company said it will invest 350 billion Danish crowns ($57.37 billion) in renewable energy development by 2027 and set a new target of achieving 50 gigawatts of installed renewable energy capacity by 2030.

($1 = 6.1011 Danish crowns)

Reporting by Tim Barsoe Editing by David Goodman

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