Ørsted (Denmark) is launching the rights issue announced last month, offering new shares with pre-emptive rights to existing shareholders during the period from 19 September to 2 October 2025. The company is looking to raise DKK 60 billion (around EUR 8 billion) to fund the construction of the Sunrise Wind project in New York and enhance its financial flexibility, which also includes helping to cover any impact the recently issued federal stop-work order for Revolution Wind may have.
Since the developer was unable to secure a partial divestment of Sunrise Wind and the associated project financing, as per its usual business model, Ørsted needs to fund the construction of the entire 924 MW offshore wind project on its own balance sheet, which requires an incremental funding of approximately DKK 40 billion (around EUR 5.4 billion), according to the developer.
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https://finance.yahoo.com/quote/ORSTED.CO/
Ørsted Initiates EUR 8 Billion Rights Issue to Build Sunrise Wind, Cover Revolution Wind Halt Impact
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Posted by DzipaloJunuzHepek
3 Comments
Now they raise funds to build the offshore wind farm in new York… Now hear me out. What if Trump halts this one too? They will be completely fucked.
That rights issue is a tough pill to swallow – basically a big dilution hit just to keep Sunrise Wind alive. Orsted’s balance sheet was already stretched, and now they’re shouldering full project risk without the usual JV setup. Could be a long road ahead unless US policy shifts or power prices give them some tailwinds.
This windfarm will be built only towards 2029 or so. Trump will be long gone and under soil by then. Most likely, if a dem leader emerges by then, we can even kick out south from the Union and make America truly great.