OSLO, June 8 Reuters Renewable energy group Orsted will invest 475 billion Danish crowns 68.3 billion to achieve a 2030 goal to install 50 gigawatts GW of power capacity, it said ahead of an investors39; update later on Thursday.

The Danish company said the plans were fully selffunded and it expected to exceed goals set in 2021 for earnings before interest, tax, depreciation and amortisation EBITDA as well as for return on capital employed ROCE.

Orsted39;s share price rose 5.1 by 0754 GMT to reach a twoweek high, outpeforming a 0.6 rise in Copenhagen39;s benchmark stock index.

We39;re on track to outperform our previous EBITDA and ROCE targets for 20202027, confirming the significant value in our portfolio of renewable projects, Chief Executive Mads Nipper said in a statement.

Orsted, the world39;s No. 1 offshore wind farm developer by gigawatt capacity, operates 15.5 GW of renewable energy assets. Capacity of 4.9 GW is under construction and projects representing another 10.6 GW have been awarded, it said.

Demand for green energy is rising, but the wind industry, which requires high upfront investment has been hit by cost inflation and high interest rates.

Orsted39;s share price has more than halved since peaking in January 2021.

The company said it was cooperating closely with suppliers to secure competitive prices and ensure sufficient value in projects for which it had not yet made final investment decisions.

It could reconfigure or exit projects if it finds…