Equinor to acquire a 9.8% stake in Ørsted for $2.5bn.

Equinor, a petroleum refining company, agreed to acquire a 9.8% stake in Ørsted, a developer of offshore and onshore renewable energy farms, energy storage facilities, and bioenergy plants, for $2.5bn. “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,” Anders Opedal, Equinor CEO.