(Source: Shutterstock.com)
Norway’s Equinor ASA is now the second largest shareholder in Ørsted AS after it acquired a 9.8% minority stake in Ørsted, or 41.19 million shares.
The current market value of Equinor’s holding in Denmark-based Ørsted is around US$2.5 billion, based on the Oct. 4 closing price of DKK 418 per share.
Equinor said it plans to up its ownership to 10%, according to an Oct. 7 press release.
“This investment is in line with Equinor’s strategy of value driven growth in renewables. The offshore wind industry is currently facing a set of challenges, but we remain confident in the long-term outlook for the sector, and the crucial role offshore wind will play in the energy transition,” said Anders Opedal, CEO of Equinor.
Ørsted has a net renewable generation capacity of approximately 10.4 gigawatts (GW) and a gross offshore wind portfolio of approximately 7 GW.
Ørsted looks to achieve a gross installed renewable capacity of around 35 GW to 38 GW by 2030.
Recommended Reading
Rystad: 12 MMbbl/d at Risk in Full-blown Middle East War
2024-10-17 - A full-blown war in the Middle East could end up with 12 MMbbl/d of oil at risk—leading to high prices and widespread global consequences, according to Rystad Energy.
Electrification of Permian Faces a Problem: Not Enough Shock for the System
2024-11-21 - Permian Basin producers may have to wait years for Texas utilities to grow the grid.
EQT’s Rice: ‘Wake Up’ to Anti-Energy Movement
2024-11-08 - In the face of growing opposition to fossil fuels and energy infrastructure, EQT CEO Toby Rice pulled out a rallying cry at Hart Energy’s DUG Appalachia conference: “Wake up!”
Bracewell: How Trump and Harris Differ (or Don’t) on Energy Policy
2024-10-16 - Presidential impact on energy prices is largely about perception, although LNG permitting, production incentives and the Inflation Reduction Act will be influenced depending on who is in the White House.
Sidley Austin: Debt Financing Returns to E&P Space
2024-10-15 - Funding sources are evolving as reserve-based loans remain limited.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.