By Dominic Chopping
Orsted plans to propose a rights issue that could raise $9.4 billion as it seeks fresh funds to continue its offshore wind construction projects.
The Danish renewable-energy company said Monday it plans to offer new shares to existing shareholders, with support from the Danish state as the majority owner, to raise gross proceeds of 60 billion Danish kroner ($9.36 billion).
"The rights issue announced today will strengthen Orsted's capital structure and provide financial robustness in the years 2025 through 2027, during which we'll deliver on our 8.1 gigawatt offshore wind construction portfolio," said Chief Executive Rasmus Errboe.
An extraordinary general meeting will be called for Sept. 5 to approve the plan.
It said separately that it maintains full-year guidance for earnings before interest, taxes, depreciation and amortization excluding earnings from new partnership agreements and impacts from cancellation fees of between 25 billion and 28 billion kroner.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
August 11, 2025 02:13 ET (06:13 GMT)
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