Equinor ASA has acquired 9.8% of Ørsted , one of the world’s leading renewable energy developers. The purchase of 41,197,344 shares makes Equinor the second largest shareholder in Ørsted, behind only the Danish state.
Equinor increases its stake in Ørsted
This transaction is valued at approximately $2.5 billion and reflects Equinor’s confidence in renewable energy , especially at a time when the industry is facing challenges. In addition, the company plans to increase its stake to 10%, once it obtains the relevant regulatory approvals.
Equinor CEO Anders Opedal said the investment is in line with the company’s growth strategy.This is a countercyclical investment in a leading developer with a strong portfolio of assets in operation. It will allow us to complement our own renewable energy production capacity. “Opedal said. Although Equinor is not seeking representation on Ørsted’s board, it fully supports the company’s direction and long-term strategy.
Furthermore, the acquisition is consistent with Equinor’s goal of expanding its presence in renewable energy projects and diversifying its assets in operation. The company has consolidated its leadership in offshore wind energy , both in operation and in development, and this new participation reinforces its focus on sustainability and carbon emissions reduction.
Ørsted’s perspectives on Equinor
Ørsted , with a renewable generation capacity of 10.4 GW, is currently working on offshore wind projects totalling around 7 GW, and its ambition is to reach between 35 and 38 GW of installed capacity by 2030.
Opedal also stressed that despite the current headwinds in the wind sector, the long-term outlook remains strong. Equinor’s investment in Ørsted has been made through a combination of on-market purchases and block deals, allowing for a favourable strategic position in the market.
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Source and photo: Equinor
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