Equinor Acquires Stake in Ørsted, Becoming Second-Largest Shareholder

Norwegian energy giant Equinor ASA has made a significant move in the renewable energy sector by acquiring a 9.8% stake in Ørsted A/S, a leading offshore wind developer. The acquisition of 41,197,344 shares positions Equinor as the second-largest shareholder in the Danish company, just behind the Danish State.

“This is a counter-cyclical investment in a leading developer, and a premium portfolio of operating offshore wind assets,” said Anders Opedal, CEO of Equinor. “The exposure to producing assets complements Equinor’s operated offshore wind portfolio of large projects under development,” he added.

The transaction aligns with Equinor’s strategy of value-driven growth in renewables, despite challenges facing the industry.

“The offshore wind industry is currently facing a set of challenges, but we remain confident in the long-term outlook for the sector, and the crucial role offshore wind will play in the energy transition”, says Opedal.

Ørsted, a U.S. leader in offshore wind energy, boasts a net renewable generation capacity of approximately 10.4 GW and a gross portfolio of offshore wind projects in execution of around 7 GW. The company aims to achieve a gross installed renewable capacity of 35 to 38 GW by 2030.

The market value of Equinor’s holding in Ørsted is estimated at around USD 2.5 billion, based on recent market prices. Equinor plans to increase its ownership to 10%, subject to regulatory approvals, but has no current intentions to further expand its stake.