(Reuters) -Danish energy firm Orsted is considering raising as much as 5 billion euros ($5.83 billion) from a rights offering to shore up its finances, Bloomberg News reported on Friday, citing people
Orsted Considers Up to €5 Billion Rights Offering for Financial Boost
(Reuters) -Danish energy firm Orsted is considering raising as much as 5 billion euros ($5.83 billion) from a rights offering to shore up its finances, Bloomberg News reported on Friday, citing people familiar with the matter.
The fundraising plan could be announced in the coming weeks if Orsted decides to proceed, the report said.
Orsted's market value has plunged from its 2021 peak, driven by rising costs and supply chain disruptions. U.S. President Donald Trump's opposition to offshore wind has further eroded investor confidence.
The company has onshore wind, offshore wind, solar and storage operations across Texas, the U.S. Midwest and East Coast markets.
Orsted declined to comment on the Bloomberg report. There is no certainty a deal will proceed, and the size and timing of any potential offering could shift depending on market conditions, the report added.
Rasmus Errboe, who became Orsted's CEO in January, has the challenge of restoring investor confidence and streamlining the company to adapt to the changes the offshore wind industry is facing.
In May, the Danish company scrapped its plan to build a major offshore wind farm in Britain, citing a deteriorating global business environment for renewables.
During its first-quarter earnings, the company kept its 2025 outlook, excluding new partnerships and cancellation fees, unchanged. It is scheduled to report its half-year 2025 results on August 13.
($1 = 0.8576 euros)
(Reporting by Nilutpal Timsina in Bengaluru; Editing by Shreya Biswas and Leroy Leo)
