— Norway’s Equinor said it will invest about $1bn to support Ørsted’s DKr60bn ($9.4bn) rights issue, aiming to keep its 10% stake as the Danish offshore wind leader faces US stop‑work orders and mounting political headwinds. Ørsted’s shares rose in early Monday trading; Equinor’s were broadly flat.
Key Takeaways
- Equinor will participate in Ørsted’s DKr60bn ($9.4bn) rights issue with roughly $1bn of new capital.
- The Norwegian group intends to maintain its 10% holding; Denmark’s government owns about 50% of Ørsted.
- Ørsted shares gained about 4.4% in early trading on Monday; Equinor was little changed.
- Ørsted plans to launch the rights issue following an emergency shareholder meeting on Friday.
- Ørsted’s market capitalization stands near DKr80bn ($12.6bn).
- Equinor’s cumulative investment in Ørsted will reach about DKr23bn.
- Equinor will nominate a board candidate at Ørsted and has called for closer strategic collaboration.
- US stop‑work orders have hit an Equinor‑led project and Ørsted’s Revolution Wind, complicating asset sales including a stake linked to Sunrise Wind.
Verified Facts
Equinor confirmed it will take up its rights in Ørsted’s planned DKr60bn capital raise, committing around $1bn in fresh funds. The company said it intends to preserve its current 10% ownership. Denmark’s state remains Ørsted’s largest shareholder at roughly 50%.
Ørsted’s stock rose about 4.4% in early Monday trading after Equinor’s statement, while Equinor’s shares were largely unchanged. Ørsted targets a formal launch of the rights offering after a shareholder meeting scheduled for Friday.
The Danish group’s market value is about DKr80bn ($12.6bn). Equinor indicated its total outlay linked to Ørsted will approach DKr23bn, and it plans to propose a director for Ørsted’s board to deepen cooperation.
In the US, federal stop‑work directives have affected an Equinor‑led offshore wind effort and Ørsted’s Revolution Wind project. Ørsted has also faced challenges selling down interests connected to nearby developments, including Sunrise Wind.
| Metric | Figure |
|---|---|
| Rights issue (Ørsted) | DKr60bn (~$9.4bn) |
| Equinor new commitment | ~$1bn |
| Equinor ownership target | 10% |
| Ørsted market cap | DKr80bn (~$12.6bn) |
| Share reaction (Ørsted) | +4.4% (early Monday) |
Context & Impact
The capital raise is designed to stabilize Ørsted’s balance sheet after policy‑driven setbacks in the US offshore market. Stop‑work orders pause critical timelines, heighten financing risk, and complicate project sell‑downs that developers use to recycle capital.
Equinor’s decision removes a major uncertainty over investor support and signals potential industry consolidation. By pursuing a board seat and closer collaboration, Equinor is positioning for joint development, procurement synergies, and portfolio optimization across troubled US assets and steadier European pipelines.
Political scrutiny is rising. Smaller parties in Denmark’s parliament have urged the governing coalition not to deploy taxpayer funding to support Ørsted’s US exposure. Analysts have also floated the idea that Equinor and Norway’s state, which holds a controlling stake in Equinor, could be natural buyers if Denmark ever reduced its holding—though no such sale is on the table.
Official Statements
The offshore wind sector is moving toward consolidation and new business models; closer industrial and strategic collaboration between Ørsted and Equinor could create value for shareholders of both companies.
Equinor statement
Unconfirmed
- European officials have reportedly said the US administration is exploring ways to halt as many renewable projects as possible. This has not been publicly detailed by US agencies.
- Reports that President Trump seeks control of Greenland from Denmark and has not ruled out using force are politically sensitive claims; independent official documentation was not cited in the company statements.
Bottom Line
Equinor’s $1bn commitment shores up Ørsted’s landmark rights issue and signals a tighter partnership as US policy turbulence reshapes offshore wind. Execution now hinges on Friday’s shareholder vote and clarity on the scope and duration of US stop‑work orders.