Equinor acquires a 9.8% minority stake in Ørsted
07 Octobre 2024 - 12:02PM
Equinor ASA (OSE:EQNR, NYSE:EQNR) has acquired
41,197,344 shares in Ørsted A/S (“Ørsted”), corresponding to 9.8%
of the shares and votes in the company.
The transaction establishes Equinor as the second largest
shareholder in Ørsted, after the Danish State, which holds a
controlling stake in the company.
“Equinor has a long-term perspective and will be a supportive
owner in Ørsted. This is a counter-cyclical investment in a leading
developer, and a premium portfolio of operating offshore wind
assets. The exposure to producing assets complements Equinor’s
operated offshore wind portfolio of large projects under
development”, says Anders Opedal, CEO of Equinor.
Equinor is supportive of Ørsted’s strategy and management, and
is not seeking board representation.
“This investment is in line with Equinor’s strategy of value
driven growth in renewables. The offshore wind industry is
currently facing a set of challenges, but we remain confident in
the long-term outlook for the sector, and the crucial role offshore
wind will play in the energy transition”, says Opedal.
Ørsted has a net renewable generation capacity of around 10.4
GW, and a gross portfolio of offshore wind projects in execution of
around 7 GW. The company’s ambition is to achieve a gross installed
renewable capacity of around 35 to 38 GW by 2030. (1)
Equinor’s ownership position has 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 USD 2.5bn, based on a closing price Friday 4 October of DKK
418 per share and a USD/DKK exchange rate of 6.8.
Subject to obtaining regulatory approvals under applicable
Foreign Direct Investment regulations, Equinor intends to increase
its ownership to 10%. There are currently no plans to further
increase the stake.
The transaction will be executed within Equinor’s communicated
financial framework.
* * *
(1) Net renewable generation capacity refers to the company’s
equity share of offshore wind, onshore wind and solar generation
capacity. Offshore wind projects in execution and the 2030 ambition
are gross (100%) numbers. The ambition also includes onshore
renewable energy, power-to-X and bioenergy. Source: Ørsted’s Q2-24
presentation and asset book.
* * *
Contact details:
Investor relationsBård Glad Pedersen, senior vice president
Investor Relations,+47 918 01 791
MediaSissel Rinde, vice president Media Relations,+47 412 60
584
This information is subject to the disclosure requirements
pursuant to Section 5-12 of the Norwegian Securities Trading
Act
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