Ørsted shares have taken a dive as the company has opened a $9.4bn rights issue to fund its Sunrise Wind project in the US.

Headwinds coming off the Trump administration’s decision to stop work on Equinor's Empire Wind as deterring investors has made it difficult for Ørsted secure financing or sell a stake in the project. The result is that the company will need to fund development itself, hence the rights issue, and this in turn has contributed to the share price falling buy a third.

Trump’s adverse position on renewables has caused a high degree of uncertainty and thus made investment in such technologies risky, resulting it investors fleeing or asking a high price for investment.

Orsted, one of the largest wind energy operators in the world, says it is delivering strong H1 2025 results despite this.

Rasmus Errboe, group president and CEO of Ørsted, said: “We continued to make good progress across our entire construction portfolio according to plan, with almost 70 per cent of the offshore wind turbines installed at Revolution Wind and the first foundations installed at Sunrise Wind in the US.”

The company continues to develop other projects worldwide, including Taiwan, but notes it will not be continuing with the Hornsea 4 project in its current form, and will not participate in the Danish carbon capture and storage (CCS) tenders in the immediate future. It has also launched a sales process for a potential full divestment of our European Onshore business.

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