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

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 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,

EQNR secures a 9.8% stake in Orsted, becoming the latter's second-largest shareholder and advancing its commitment to offshore wind and renewable energy growth.

Stake worth $2.5bn of Norwegian group is another sign of continuing key role of some oil players in offshore wind sector

Pairing one of the Nordic region’s biggest fossil fuel companies with its largest renewable power developer.

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.