US EditionOil giant Equinor backs crisis-stricken Orsted as Trump lashes out at offshore wind
Equinor will invest nearly $1 billion in Orsted's $9.4 billion rights issue to maintain its 10% stake and gain board representation amid offshore wind industry challenges.
- Equinor, a Norwegian oil giant and 10% owner of Ørsted, pledged nearly $1 billion to support Ørsted's $9.4 billion rights issue on September 1, 2025.
- Ørsted announced the rights issue due to adverse U.S. market developments and ongoing macroeconomic and supply chain challenges impacting offshore wind projects.
- The Trump administration recently ordered Ørsted to halt work on a nearly completed U.S. offshore wind farm and canceled $679 million in federal funding for related infrastructure.
- Shares of Ørsted hit a fresh record low after these events but rose 3.6% following Equinor's support, which includes board representation and a share subscription of up to 6 billion Danish crowns.
- Equinor's backing reflects confidence in Ørsted's offshore wind business and may signal closer strategic collaboration amid uncertain political support for U.S. projects.
13 Articles
13 Articles
Equinor Bets on Offshore Wind With Participation in Ørsted’s Rights Issue
Despite current challenges, Equinor still believes in the long-term prospects of offshore wind and will take part with $939 million in the $9.4-billion rights issue of the world’s offshore wind developer Ørsted, in which the Norwegian energy major holds 10%. Ørsted last month announced plans for a $9.4 billion (60 billion Danish crowns) rights issue to raise capital from existing shareholders as challenges for the industry continue to mount. Ø…
The Norwegian group of oil and gas Equinor will inject almost 1 billion dollars of capital into Ørsted, doubling its investment in the Danish energy company...
Orsted's capital raising plan comes as news in the US wind market has derailed the Danish renewable energy company's asset sale plans.
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