Equinor has completed the acquisition of its 10% shareholding in Danish offshore wind and renewables developer Orsted.
The acquisition was announced on 7 October 2024.
Following approvals under applicable foreign direct investment regulations, Equinor has acquired an additional 0.2% shareholding (corresponding to 840,764 shares) in Orsted.
The volume weighted average price for the 10% stake is Dkr398.5 per share equalling a total consideration of $2.3bn.
At the time of announcing the transaction, Equinor CEO Anders Opedal (pictured) said the investment is “in line with Equinor’s strategy of value driven growth in renewables”.
He mentioned that the offshore wind industry is currently facing a set of challenges, but that Equinor “remains confident in the long-term outlook for the sector, and the crucial role offshore wind will play in the energy transition”.