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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.
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