Original title: Equinor Plans to Back Orsted Rights Issue to Keep 10% Share
Equinor ASA said it intends to subscribe for new shares in wind developer Orsted A/S, the first major investor after the Danish government to back the sale. The Norwegian energy company said it plans to maintain its 10% stake in Orsted and will subscribe for new shares for as much as 6 billion kroner ($940 million). That support “reflects confidence in Orsted’s underlying business, and the competitiveness of offshore wind in the future energy mix, in selected geographies,” Equinor said in a statement on Monday.