Danish energy cooperative Andel said on Monday it will invest €400 million (DKK 3 billion) in Ørsted’s upcoming capital increase to maintain its 5% ownership stake in the offshore wind developer.
The decision comes as Ørsted seeks to strengthen its financial position amid ongoing headwinds, particularly in the U.S. market. Despite those challenges, Ørsted remains the world’s largest offshore wind developer and a key contributor to Denmark’s energy infrastructure.
Andel described the investment as a strategic and responsible step aimed at supporting Ørsted’s operations in Denmark while enabling the company to continue its efforts to reduce global CO₂ emissions.
“We see it as a responsible ownership decision to help Ørsted secure the necessary development power to deliver global CO₂ reductions,” said Jesper Hjulmand, group chief executive of Andel. “At the same time, it is important for us to support Ørsted’s Danish infrastructure and energy production.”
Hjulmand added that failing to participate in the capital increase would significantly dilute Andel’s stake. “If we remain on the sidelines, our ownership stake will be greatly diluted and lose significant value. We believe that the value and potential of Ørsted is greater than the share price and results currently reflect,” he said. “By joining, we strengthen Andel’s strategic asset – both now and in the longer term.”
Andel acknowledged the investment would temporarily reduce its capital available for other renewable projects, including solar energy developments and future offshore wind tenders in Denmark.
“Our strategy remains the same: Andel must create the most green transition possible for the money and thus value for cooperative members, customers and society,” Hjulmand said.
Ørsted announced the capital increase earlier this month as part of a broader effort to reinforce its balance sheet and continue its pipeline of renewable energy projects globally.
