Orsted Plans Up to $9.4 Billion Rights Issue for Offshore Wind

Danish renewable-energy company Orsted plans to conduct a rights issue to raise approximately $9.4 billion (60 billion Danish kroner) to support its offshore wind construction projects and strengthen its capital structure. This fundraising effort, backed by the Danish state as the majority shareholder, aims to provide financial robustness from 2025 through 2027, during which Orsted will deliver its 8.1 gigawatt offshore wind portfolio. An extraordinary general meeting is scheduled for September 5 to approve the plan. Earlier reports suggested Orsted was considering a smaller rights offering of up to €5 billion ($5.8 billion), but the confirmed figure is notably higher. The company maintains its full-year earnings guidance, excluding new partnership earnings and cancellation fee impacts. This move follows a challenging period for Orsted and is intended to shore up its balance sheet moving forward.