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Orsted Plans to Raise $9.4 Billion in Rights Issue
DENMARK, AUG 11 – Ørsted aims to strengthen its balance sheet and fund its U.S. Sunrise Wind project amid rising costs and financing challenges, with support from the Danish state covering 50.1% of the $9.4 billion raise.
- Ørsted, the Danish offshore wind developer, announced plans on August 11, 2025, to raise 60 billion Danish crowns by offering new shares to existing shareholders with guaranteed subscription support.
- The rights issue follows an extraordinary market situation caused by adverse developments in the US offshore wind sector and prior macroeconomic and supply chain challenges.
- The company revised its outlook for the offshore division from an expected increase to a more stable forecast, citing reduced wind speeds in early 2025, while keeping its full-year adjusted EBITDA projection steady between 25 billion and 28 billion crowns.
- Ørsted's CEO Rasmus Errboe said long-term fundamentals remain strong in Europe, with H1 2025 EBITDA rising 9% year-on-year to DKK 13.9 billion excluding partnerships and fees.
- The Danish state, holding 50.1% of Ørsted, will support and subscribe pro rata to the rights issue to strengthen the company’s capital structure amid halted Sunrise Wind divestment plans.
34 Articles
34 Articles
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