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Ørsted (CPSE:ORSTED) Starts Old 300 Storage As Fair Value Questions Persist

Simply Wall St · 1d ago

What Ørsted’s Old 300 Storage milestone means for the stock

Ørsted (CPSE:ORSTED) has brought its Old 300 Storage battery project in Needville, Texas, into commercial operation, connecting 250 MW of storage capacity to the ERCOT grid alongside the existing Old 300 Solar facility.

This expansion in U.S. battery energy storage, supplied by Tesla Megapacks and paired with one of the larger U.S. solar projects commissioned in 2024, gives investors fresh context for assessing Ørsted’s role in large scale renewable infrastructure.

See our latest analysis for Ørsted.

Old 300 Storage comes after a series of project updates for Ørsted, including large offshore wind components arriving from suppliers like Haizea Wind Group. It lands at a time when the stock’s DKK141.7 share price has a year to date share price return of 10.7% but a 1 year total shareholder return that is down 17.39%. Recent momentum has picked up from a weak multi year total return base, while shorter term 30 and 90 day share price returns remain soft.

If Ørsted’s latest storage project has you thinking about where the next grid upgrade story could come from, it may be worth scanning other power grid opportunities through the 36 power grid technology and infrastructure stocks

Bulls view Old 300 Storage as evidence that Ørsted can convert large projects into grid-scale assets. Bears, however, focus on the long slide in total returns and the recent net loss. Which story do the current valuation markers appear to support next?

Most Popular Narrative: 47.6% Overvalued

Compared with Ørsted’s last close at DKK141.7, the most followed narrative sets a fair value of DKK96.02. That puts the narrative well below today’s market price and frames Old 300 Storage against a stock that is already priced above this view of fair value.

Ørsted A/S (ORSTED) https://orsted.com/en/investors is a Danish energy company that has transformed from a traditional oil and gas player (formerly DONG Energy) into the world's largest developer of offshore wind energy. As of February 2026, it is a key asset for the "green" portfolio, having completed a period of large-scale transformation and a profitability crisis.

Read the complete narrative.

Want to understand why this narrative still points to upside in cash flow despite a loss making year and heavy past dilution? The core assumptions hinge on revenue growth from offshore wind, a recovery in profitability and a valuation multiple more often linked to faster growing utilities. Curious how those inputs add up to a fair value below the current DKK141.7 share price.

Result: Fair Value of DKK96.02 (OVERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, Ørsted’s long multi year total return decline and the recent net loss mean any setback in large projects or regulatory support could quickly challenge this overvaluation story.

Find out about the key risks to this Ørsted narrative.

Another view on Ørsted’s value

The narrative fair value for Ørsted sits at DKK96.02 and labels the stock as overvalued at DKK141.7. Our DCF model presents a very different picture. It estimates the future cash flow value at DKK2,191.20, which indicates a very large gap in the other direction and highlights a wide range of possible outcomes for investors to consider.

Look into how the SWS DCF model arrives at its fair value.

ORSTED Discounted Cash Flow as at Aug 2026
ORSTED Discounted Cash Flow as at Aug 2026

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Ørsted for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 252 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.

Next Steps

With Ørsted pulling investors in different directions on value, it makes sense to move quickly, review the full picture and shape your own view using the 3 key rewards and 1 important warning sign.

Looking for more investment ideas beyond Ørsted?

If Ørsted has sharpened your focus on where capital goes next, use these targeted stock ideas to pressure test your thinking before the next big move.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.