Equinor acquires a 9.8% minority stake in Ørsted

Equinor ASA has purchased 41,197,344 shares in Ørsted A/S, which represents 9.8% of the company's total shares and voting rights.

The acquisition positions Equinor as the second-largest shareholder in Ørsted, following the Danish State, which maintains a controlling interest in the company.

“Equinor takes a long-term view and aims to be a supportive stakeholder in Ørsted. This investment is made during a counter-cyclical phase and focuses on a leading developer with a premium portfolio of operational offshore wind assets. Our exposure to producing assets enhances Equinor’s existing portfolio of major offshore wind projects currently in development,” stated Anders Opedal, CEO of Equinor.

Equinor endorses Ørsted’s strategy and management but does not plan to seek representation on the board.

“This investment aligns with Equinor’s strategy for value-driven growth in renewables. Although the offshore wind industry is facing challenges, we remain optimistic about its long-term prospects and the essential role it will play in the energy transition,” Opedal added.

Ørsted currently boasts a net renewable generation capacity of approximately 10.4 GW, with a gross portfolio of around 7 GW of offshore wind projects in progress. The company aims to achieve a gross installed renewable capacity of between 35 and 38 GW by 2030.

Equinor has gradually built its stake through market purchases and a block trade.

As of October 4, the current market value of Equinor's investment in Ørsted is about USD 2.5 billion, based on a share price of DKK 418 and a USD/DKK exchange rate of 6.8.

Pending regulatory approvals related to Foreign Direct Investment regulations, Equinor plans to increase its ownership to 10%. There are no current intentions to further increase this stake.

This transaction will be carried out within Equinor’s established financial framework.