Ørsted’s Business Model “Derailed” by US, Seeks $9 Billion Lifeline

Danish energy champion Ørsted has declared that its business model has been “derailed” by the United States, prompting a $9 billion plea for a financial lifeline from its shareholders. The announcement caused the company’s stock to crash by nearly a third, hitting a historic low.
The company explicitly pointed to “recent material developments in the US” as the cause. Its standard practice of selling partial ownership in new wind farms to finance construction has been rendered impossible. The Trump administration’s hostile review of wind permitting has slashed the value of Ørsted’s American projects, blocking this vital funding stream.
This political attack has hit an industry already weakened by increased costs from supply chain problems and rising interest rates. The administration’s move to halt a Norwegian developer’s project, which was already approved, sent a clear signal that no investment was safe from political interference.
Backed by the Danish government, which holds a 50% stake, the capital raise is designed to fortify Ørsted’s finances. The company aims to complete major US projects like Sunrise Wind and Revolution Wind, and maintain its global plan to power millions of homes, despite the “extraordinary” challenges.