Equinor acquires 9.8% stake in Ørsted, becoming second-largest shareholder
Norwegian energy giant Equinor has acquired a 9.8% stake in Danish renewable energy company Ørsted, valued at $2.5 billion. This transaction, involving 41,197,344 shares, makes Equinor Ørsted’s second-largest shareholder. Equinor plans to increase its stake to 10%, pending regulatory approvals but does not intend to grow the stake further.
Ørsted, with a renewable generation capacity of 10.4GW, is developing offshore wind projects totalling 7GW and aims to achieve a capacity of 35-38GW by 2030. Equinor views the investment as part of its strategy for value-driven growth in renewables, despite current challenges in the offshore wind industry.
In August 2024, Equinor and Polenergia secured permits for the Baltyk offshore wind projects in the Baltic Sea, marking a key step toward final investment decisions.