Ørsted Advances with Rights Issue Amid US Project Challenges

Ørsted A/S confirms its commitment to proceed with a planned rights issue, appointing a consortium of banks to support the process. This move comes as Ørsted navigates regulatory challenges with its US offshore wind project, Revolution Wind. A recent stop-work order from the US Department of the Interior has stalled construction, although the project is 80% complete.

The rights issue, valued at DKK 60 billion, aims to bolster Ørsted’s capital structure, ensuring financial flexibility and robustness amid increasing regulatory uncertainties in the US market. Despite the stop-work order, Ørsted maintains its financial guidance for 2025 and confirms medium-term targets, with significant EBITDA contributions expected from its ongoing projects.

The extraordinary general meeting for the rights issue is set for 5 September 2025. Major banks, including BNP PARIBAS and Morgan Stanley, will act as underwriters for the portion not covered by the Danish state.