Innovative Enterprise, Industrial Ecosystems, and Sustainable Transition: The Case of Transforming DONG Energy to Ørsted

Asker Voldsgaard*, Mogens Rüdiger


Publikation: Bidrag til bog/antologi/rapport/konference proceedingBidrag til bog/antologiForskningpeer review


This chapter examines how evolutionary and institutional economic theory can improve our understanding of the politico-economic dynamics of the green transition. The authors focus on how path dependency in technological systems perpetuate and reward unsustainable business practices, while mission-oriented policy programs can break the feedback loops that keep the trajectory in place. Significantly, policy programs creating sizable markets for renewable energy have generated sufficient learning curves to move renewable energy sources within the cost range of fossil fuels, thereby enabling private profit incentives to accelerate the transition in our immediate future. These gains have depended on managerial decisions to co-evolve their businesses with the institutional environment shaped by policymaking despite uncertainty of technological progress, market evolution, and political credibility. We explore the case of how the Danish energy company Dong Energy was transformed from a fossil fuel company to the world’s leading offshore wind developer. These dynamics point to the need to create markets through political institutions for the coming generations of sustainable technologies to enable potential gains from learning, network effects, and economies of scale to be identified and exploited.

TitelHandbook of Climate Change Mitigation and Adaptation : Third Edition
RedaktørerMaximillian Lackner, B. Sajjadi, W.Y. Chen
Antal sider52
UdgivelsesstedNew York
ForlagSpringer Publishing Company
ISBN (Trykt)978-1-4614-6431-0
ISBN (Elektronisk)978-1-4614-6431-0
StatusUdgivet - 2021

Bibliografisk note

Publisher Copyright:
© Springer Nature Switzerland AG 2022. All rights are reserved.


  • Grøn omstilling
  • Ørsted A/S
  • vindenergi
  • olie
  • gas


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