Norway's Equinor has bought a 9.8% stake valued at around $2.5 billion in renewable energy group Orsted, it said on Monday, making it the second largest shareholder after the Danish government. Orsted's share price rose on the news,

Equinor ASA acquired a $2.5 billion stake in Danish wind energy giant Orsted A/S, pairing one of the Nordic region’s biggest fossil fuel companies with its largest renewable power developer.

Spread the loveNorwegian energy giant Equinor has announced a strategic investment in Orsted, acquiring a 9.8% stake in the Danish offshore wind leader. This move underscores Equinor’s commitment to a sustainable future and its ambitions to become a global leader in renewables.

Norway's Equinor has bought a 9.8% stake valued at around $2.5 billion in Danish offshore wind farm developer Orsted, it said on Monday, as it seeks to build up its renewables portfolio. Orsted shares

The acquisition corresponding to 9.8% of the shares and votes in the company. The transaction establishes Equinor ( EQNR) as the second largest shareholder in Ørsted, after the Danish State, which holds a controlling stake in the company. Equinor ( EQNR) is supportive of Ørsted’s strategy and management, and is not seeking board representation.

Norwegian energy giant Equinor has acquired a 9.8% stake in Danish energy company Ørsted. The current market value of Equinor’s holding in Ørsted is $2.5bn. Equinor becomes Ørsted's second-largest shareholder.