Norwegian energy major Equinor has acquired a 9.8% stake in Danish offshore wind player Ørsted and became the second largest shareholder in the company after the Danish state. Equinor said that its ownership position had been built over time, through a combination of market purchases and a block trade. The current market value of Equinor’s holding in Ørsted is around $2.5bn, based on a closing price on October 4 of DKK 418 ($61.55) per share. Subject to obtaining certain regulatory approvals, Equinor intends to increase its ownership to 10%. The Norwegian firm stated that it has no plans to further increase the stake. The company added that it was supportive of Ørsted’s strategy and management, and is not seeking board representation. “Equinor has a long-term perspective and will be a supportive owner in Ørsted. The exposure to producing assets complements Equinor’s operated offshore wind portfolio of large projects under development”, said Anders Opedal, CEO of Equinor. Ørsted has a net renewable generation capacity of around 10.4GW and a gross portfolio of offshore wind projects of around 7GW. The company’s ambition is to achieve a gross installed renewable capacity of around 35 to 38GW by 2030. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsDenmark Norway Offshore Wind