Norway-based Equinor has solidified its position as the second-largest shareholder in Denmark’s Ørsted, following the Danish State, which maintains a controlling stake. According to Equinor, this counter-cyclical investment strengthens its portfolio with exposure to Ørsted’s leading offshore wind assets. Equinor is not seeking board representation and says it fully supports Ørsted’s strategy and management. Ørsted has a renewable generation capacity of 10.4 GW, with plans to expand to 35-38 GW by 2030. Equinor’s current stake is valued at $2.5 billion, and the company intends to increase its ownership to 10%, pending regulatory approvals. Equinor’s financial framework will guide the transaction.
Ørsted gains Equinor as a major renewable energy investor
Equinor holds a $2.5 billion stake in Ørsted, valued at DKK 418 per share, with plans to increase ownership to 10% pending regulatory approval. (Image Source: Pixabay)
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