Denmark’s Orsted seeks $9.4 billion amid U.S. wind market challenges
Danish offshore wind developer Orsted has announced a rights issue worth 60 billion Danish crowns ($9.4 billion), causing its shares to drop nearly 30% to a nine-year low. The fundraising aims to bolster Orsted’s finances amid ongoing struggles in the U.S. wind market, where opposition from President Donald Trump has created significant uncertainty.
Trump’s administration suspended offshore wind project licensing, notably halting developments like Equinor’s New York wind farm, though some restrictions were later reversed. This uncertainty has forced Orsted to pause the partial sale of its Sunrise wind project near New York, News.Az reports, citing Reuters.
Despite these challenges, Orsted’s CEO Rasmus Errboe said the funds would strengthen the company’s capital structure and support the development of 8.1 gigawatts of offshore wind projects underway through 2027.
The Danish state, owning a majority 50.1% stake, will participate in the share issue to maintain control. Morgan Stanley will underwrite any unsubscribed shares to ensure completion.
Orsted’s earnings rose 9% in the first half of 2025, with the company maintaining its full-year financial guidance.
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