Equinor Finalizes 10% Stake Acquisition in Ørsted for $2.3 Billion

Equinor has completed the acquisition of a 10% stake in Ørsted, becoming the Danish company’s second-largest shareholder after the Danish State. The total investment amounted to USD 2.3 billion (approximately EUR 2.2 billion), with a volume-weighted average price of DKK 398.5 per share.

The acquisition, initially announced in October 2024, began with the purchase of 9.8% of Ørsted’s shares—41,197,344 shares acquired through a combination of market purchases and a block trade. Following regulatory approval under Foreign Direct Investment regulations, Equinor acquired the remaining 0.2% (840,764 shares) by 23 December.

Equinor CEO Anders Opedal described the move as a strategic, counter-cyclical investment in Ørsted, a leader in offshore wind development. "This investment complements our portfolio by providing exposure to operating offshore wind assets, while supporting Ørsted’s strategy and management," Opedal said. Equinor has stated it has no intention of seeking board representation in Ørsted.

The acquisition reinforces Equinor's commitment to offshore wind, complementing its pipeline of large-scale projects under development.