Danske Commodities gears up to take on more assets
In a strategic move to take on more assets and expand its customer business, Danske Commodities has hired three industry heavyweights: Jens Tang, Dirk Kaiser and Søren Rygaard. They will join a new team for European power origination, focusing on energy risk management solutions such as PPAs, balancing and flexibility management. The team will be headed by Jens Tang and consist of ten experienced originators, who will provide energy market services to producers and large-scale consumers across Europe.
“Danske Commodities is a proven partner in providing risk management and asset optimisation services to customers. Now, we want to take our origination business to the next level and cover a larger part of the energy market value chain. We see this is as a natural next step and an excellent complement to our existing proprietary trading business,” said Tor Mosegaard, VP, Head of European Power Trading at Danske Commodities.
Jens Tang, Dirk Kaiser and Søren Rygaard come from managerial positions with Centrica and bring a combined 40 years of experience from energy origination for power generators, suppliers and consumers. With new capabilities on board, Danske Commodities gears up to take on more assets and use its solidity and leading trading setup to maximise value for customers.
“Driven by our capabilities within asset-backed trading, we will play a central part in enabling the energy transition with Equinor, asset owners and third-party power producers. Flexibility will be needed as increasing intermittent generation enters the energy system, which creates an opportunity for Danske Commodities to manage renewables and support the transition with our portfolio of flexible assets,” said Mosegaard and concluded:
“We now have the setup to take on more assets and offer the flexibility needed to cover power needs in real-time, at all times.”
Danske Commodities currently has 7 GW of renewable assets and more than 1 GW of dispatchable assets under management.
About Danske Commodities
Danske Commodities is an energy trading company that specialises in short-term power and gas trading and offers balancing, optimisation and hedging services to energy producers and suppliers. Every day, the company completes more than 15,000 trades across 39 countries, constantly moving energy from where there is more than needed to where it is needed most. Danske Commodities is a wholly-owned subsidiary to Norwegian energy company Equinor, operating under its own name and brand.