Equinor Concludes USD 2.3 Billion Acquisition of 10% Stake in Orsted

In short: Equinor became the second largest shareholder of the Ostad's 10% of the $ 2.3 billion acquisition. This strategic investment underscores Equinor's commitment to renewable energy and offshore air development.

Anders. CEO of Equinor. Photo: Universal

Equinor has completed the acquisition of a 10% stake in Ørsted for USD 2.3 billion (approximately EUR 2.2 billion). The deal was initially announced in October, making the Norway-based energy giant, the second-largest shareholder in Ørsted, after the Danish state, which holds a controlling interest.

On October 7, Equinor disclosed that it had acquired a 9.8% stake in Ørsted, or 41,197,344 shares. Its plan to increase its ownership to 10% is also pending regulatory approval under foreign direct investment regulations. The company noted that the acquisition was built through gradual market purchases and a block trade.

On 23 December, Equinor confirmed in an update that, after receiving the necessary regulatory approvals, it had acquired the remaining 0.2% of Ørsted shares or 840,764 shares.

Equinor said the “volume-weighted average price of the 10% stake is DKK 398.5 per share, totaling USD 2.3 billion, based on an exchange rate of 7.15 USD/DKK.”

When the initial 9.8% acquisition was announced, Equinor’s CEO stressed the company’s long-term commitment to Ørsted’s strategy and management and made it clear that Equinor had no intention of seeking board representation.

In October 2024, Equinor CEO Anders Oppedal said, “This investment is counter-cyclical, targeting a leading developer with a premium offshore wind asset portfolio. “This complements our own offshore wind projects and aligns with our strategy of value-driven renewable energy growth. While the offshore wind industry faces challenges, we remain confident in its long-term potential and its essential role in the energy transition.”

About the Equinor

Equinor is one of the world's largest offshore power companies, empowering the lives of 170 million people every day. As of 2023, the company has appointed about 23,000 people worldwide.

 

Equinor is the top operator of the Norwegian Continental Shelf and worldwide, which works in about 30 countries, transforms natural resources into energy, which fuels the progress of society, with a total revenue, of US $ 107.2 billion in 2023. The outlook on the future of energy and creating values ​​is open, bold, cooperative, and careful. Due to Norwegian state ownership, the headquarters in Norway Stavanger is 67%. Energy Company is a long-term standard and committed to a short-carb future.

 

Equinor's operating portfolio includes the production of oil and gas, renewable energy, and low-carbon solutions in combination with the ambition to become a net-zero power organization by 2050.

We are located for transformation and growth. Towards 2035 we can provide a more powerful cash flow from a wide energy mixture with low emissions overall.

⸺Anders. President and CEO of Equinor.

To change the power of the Equiner, the 2023 salty is considered a significant year as a significant year is characterized by a focus on enhancing capacity. 2023 was the year when 20% of the investments were renewable and led to a low-carbon solution. Profitable renewable and low-carbon solutions are on the way to reaching the ambition of more than 50% investment by 2023. They first strengthened the renewable portfolio by adding 8 Gigawatts to the renewable pipeline, and important milestones among them were the renewable platforms off the coast and achieving the Rio Energy.

 

They think that oil and gas will continue as the basis for the creation of our price, provide the necessary energy to contribute to the protection of energy, and to reduce the emission of oil and gas, renewable, and will continue to develop a pipeline of low-carbon projects. It hopes that both our ability to produce less carbon energy and transport and store CO2 will increase both our ability.

In 2023, less than one percent of the total energy was renewable and from the low carbon solution, this image is estimated to reach 15-20% in 2035. Their ambitions have a net renewable capacity installed of 12-16 Gigawatts by 2030, which is higher than 1.5 GHz in 2021. The equivalent force of six million British homes annually. The company is with the aim of transporting and saving between 30 to 50 million tonnes of CO2 per year by 2035. They reduce the emission of operations and our installations will be electrified at the Norwegian Continental Shelf that the Norwegian government has given green light for our affectionate Future project and has approved our electrification plans for platforms in Troll B and C and Osburg Field. There will be more national projects in the coming years. Also, Equinor decided to invest in the first phase of progress in the UK's Continental Shelf. The project is favorable to reduce carbon emissions and will be ready for future electrification.