Ørsted completes rights issue, divests UK wind farm

Danish energy company Ørsted said it has strengthened its capital structure by completing a 60 billion Danish kroner share sale and divesting a 50% stake in its Hornsea 3 offshore wind farm in the U.K.

The moves are part of a broader business plan to shore up its finances following significant setbacks in the U.S. offshore wind market.

“We’ve significantly strengthened Ørsted’s financial robustness with the completion of the rights issue and the agreement to divest a 50 % stake in our Hornsea 3 project in the UK,” Group President and CEO Rasmus Errboe said in a statement.

“I’m pleased with the strong support from our shareholders. I see this as a strong indication that our investors see significant potential in Ørsted and in the offshore wind industry.”

For the first nine months of 2025, operating profit, or Ebitda, fell to 18.6 billion kroner from 23.6 billion kroner a year earlier, which the company attributed to the non-recurrence of reversed cancellation fees.

Excluding new partnerships and cancellation fees, Ebitda was roughly flat at 17.0 billion kroner, the company said.

Ørsted reiterated its full-year Ebitda guidance of between 24 billion and 27 billion kroner.

The company is also cutting about 2,000 jobs by the end of 2027 to improve competitiveness.