{"id":27627,"date":"2026-02-28T15:23:25","date_gmt":"2026-02-28T15:23:25","guid":{"rendered":"https:\/\/www.europesays.com\/dk\/27627\/"},"modified":"2026-02-28T15:23:25","modified_gmt":"2026-02-28T15:23:25","slug":"orsted-secures-9-4-billion-to-navigate-u-s-offshore-wind-crisis","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/dk\/27627\/","title":{"rendered":"\u00d8rsted Secures $9.4 Billion to Navigate U.S. Offshore Wind Crisis"},"content":{"rendered":"

Danish offshore wind developer \u00d8rsted won shareholder approval Friday for a $9.4-billion emergency rights issue, shoring up its balance sheet as U.S. projects face mounting political and operational setbacks. The move follows weeks of uncertainty triggered by President Donald Trump\u2019s directive halting work on Equinor\u2019s Empire Wind 2 project, a decision that also rippled into \u00d8rsted\u2019s nearby Sunrise Wind venture, according to Reuters<\/a>.<\/p>\n

Two-thirds of the capital raised will be directed toward Sunrise Wind, where financing gaps emerged after co-investors withdrew. At the same time, \u00d8rsted is fighting a stop-work order on the nearly completed Revolution Wind project. Court filings show the company and partners are already carrying costs of roughly 100 million Danish crowns ($15.7 million) per week on Revolution Wind, plus an additional 60\u201370 million crowns weekly on Sunrise Wind linked to vessel utilization.
\u00d8rsted and partner Skyborn have filed suit<\/a> in U.S. federal court challenging the administration\u2019s halt to the 704-megawatt Revolution Wind project, arguing the stop-work order unlawfully disrupts an almost completed facility and threatens billions in sunk investment. The companies are seeking an injunction to resume construction, warning that prolonged suspension will inflate costs and breach offtake contracts, and further strain their already weakened balance sheets.<\/p>\n

The rights issue and lawsuit come against a backdrop of weakening earnings expectations. Earlier this week, \u00d8rsted cut its 2025 core profit<\/a> outlook to between 24\u201327 billion crowns, down from 25\u201328 billion, citing poor summer wind speeds in Europe and commissioning delays at the Greater Changhua 2b project in Taiwan.<\/p>\n

Credit pressures have been intensifying. S&P Global last month downgraded \u00d8rsted to BBB-, its lowest investment-grade rating, warning that persistent delays could erode the benefits of any equity injection within months. That warning helped set the stage for Friday\u2019s decisive shareholder vote, which passed with broad support.<\/p>\n

Among the largest backers of the capital raise is Equinor, which holds a 10% stake in \u00d8rsted and pledged to subscribe for up to 6 billion crowns (about $941 million) in new shares, as confirmed by The Wall Street Journal<\/a>.<\/p>\n

By Michael Kern for Oilprice.com<\/a><\/p>\n

More Top Reads From Oilprice.com<\/p>\n","protected":false},"excerpt":{"rendered":"Danish offshore wind developer \u00d8rsted won shareholder approval Friday for a $9.4-billion emergency rights issue, shoring up its…\n","protected":false},"author":2,"featured_media":27628,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[285],"tags":[1382,17709,11079,17710,380,287,928,2006,11052,2007,17708],"class_list":["post-27627","post","type-post","status-publish","format-standard","has-post-thumbnail","category-orsted","tag-dkk","tag-energy-crisis","tag-equinor","tag-financial-stability","tag-offshore-wind","tag-orsted","tag-renewable-energy","tag-revolution-wind","tag-rights-issue","tag-sunrise-wind","tag-us-projects"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/27627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/comments?post=27627"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/27627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media\/27628"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media?parent=27627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/categories?post=27627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/tags?post=27627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}