PROVIDENCE – Orsted A/S, the Danish company that's building a wind farm off the Rhode Island coast, announced on Friday that it will be replacing its top leadership position amid "fundamental changes" in the industry.
CEO Mads Nipper, who joined Orsted in 2021, will be stepping down effective Saturday and will be succeeded by Rasmus Errboe, the deputy CEO and chief operating officer.
“The renewable energy market has fundamentally changed since 2021," said Lene Skole, chairman of Orsted’s board of directors. "The impacts on our business of the increasingly challenging situation in the offshore wind industry, ranging from supply chain bottlenecks, interest rate increases, to a changing regulatory landscape, mean that our focus has shifted. Therefore, the board has today agreed with Mads Nipper that it’s the right time for him to step down and the board has appointed Rasmus Errboe to take over as CEO.”
Errboe, who's been with the company since 2012, is also the former regional head of Orsted's European market and former chief financial officer for the global offshore business.
“I’m honored and humbled to step into the role of CEO of a company I’ve proudly served for the past 13 years," Errboe said. "I have in-depth knowledge of the industry, and... Orsted has a strong foundation with unique capabilities. I’m looking forward to taking the lead on the transformation necessary to navigate the headwinds that Orsted and our industry currently face. Offshore wind remains crucial for the green transition, and we’re deeply committed to pursuing our vision of a world that runs entirely on green energy.”
Errboe is a member of the executive board, registered as an executive of Orsted A/S with the Danish Business Authority, and also a member of the Main Board of the Confederation of Danish Industries, according to the company.
It remains unclear if or how the change will affect the Ocean State, where Orsted is in charge of constructing the Revolution Wind project – a 704-megawatt farm – located about 15 miles south of Point Judith.
In March, Orsted also proposed Starboard Wind, a 1,184-megawatt development off Block Island that would serve Rhode Island and Connecticut. Orsted says that the Starboard Wind project would create at least 3,800 full-time jobs, with “nearly all” based in Rhode Island. This workforce would include 100 union construction jobs at ProvPort. The future of that project is uncertain in part because President Donald Trump has ordered a moratorium on leasing federal water for wind energy.
Orsted representatives did not immediately respond to requests for comment.
The news of the leadership shakeup comes barely a day after the clean energy giant said
the company was “in the process of reviewing the White House’s executive order on wind to assess the impact on our portfolio,” said Orsted spokesperson Meaghan Wims.
Last week, Trump ordered the temporary withdrawal of all areas on the Outer Continental Shelf from offshore wind leasing, as well as a review of the federal government’s leasing and permitting practices for such wind projects.
However, most local officials believe Trump’s moves will have limited effect on most of the wind projects under construction in southern New England waters, including Revolution Wind.
In December, Orsted named Amanda Dasch as new Region Americas CEO.
She succeeded David Hardy on Jan. 13, who stepped down on Nov. 30 to join GE Vernona as chief commercial officer.
Orsted also
announced on Aug. 9 that it’s moving its U.S. co-headquarters from its office on Exchange Terrace to a larger, 17,470-square-foot location at 500 Exchange St. – which also houses the headquarters for Blue Cross & Blue Shield of Rhode Island – and it will open a new U.S. engineering, procurement and construction “hub.”
Orsted said it expects to open its new headquarters this winter.
Matthew McNulty is a PBN staff writer. You may contact him at McNulty@PBN.com.