Ørsted launches capital increase to fund Sunrise Wind and strengthen structure

Danish energy company Ørsted has announced a capital increase through a rights issue reserved for its existing shareholders. The operation will take place from 19 September to 2 October, with the aim of addressing immediate financing needs created by the decision to retain full ownership of the offshore wind project Sunrise Wind, located in the United States.

Financing to support future wind capacity

The funds raised will also support the completion of 8.1 gigawatts (GW) of offshore wind projects currently under construction. These projects are expected to increase Ørsted’s total installed offshore wind capacity to 18.3 GW by the end of 2027, consolidating its position in the global offshore wind market. The company’s management believes the capital increase will enhance the group’s financial resilience during this high investment phase.

Managing US regulatory risk

Ørsted cited ongoing regulatory uncertainty in the United States as a key reason for this strategic move. By keeping full ownership of the Sunrise Wind project, the group must now fully finance the development, significantly altering its short-term cash flow forecasts. According to President and Chief Executive Officer Rasmus Errboe, the capital raise aims to “manage risks and support long-term value creation”.

Share offering timeline

The last trading day for existing shares including subscription rights is set for 16 September. Shares will trade ex-rights from 17 September, which also marks the beginning of subscription rights trading. The subscription period begins on 19 September at 09:00 and ends on 2 October at 17:00. The results of the offering will be announced on 6 October.

Future investment plans mentioned by the company include strengthening its presence in key European markets, with a focus on contributing to the continent’s energy security.