According to Reuters, Danish offshore wind developer Ørsted said on 6 November 2025 that it had no plans to merge with or take over Equinor’s renewables business, despite proposals for closer cooperation from its Norwegian shareholder.
Equinor, which last year acquired a 10% stake in Ørsted and injected almost $1 billion during an October share issue, recently said that the offshore wind industry was due for consolidation.
Ørsted’s shares have dropped by about 85% from their 2021 peak, affected by surging costs, supply chain challenges, and headwinds in the United States, where President Donald Trump sought to halt ongoing developments and suspended new licensing.
During a call with analysts on Wednesday, Ørsted’s Chief Financial Officer Trond Westlie dismissed speculation of a potential tie-up, saying, “We have no such plans.”
Chief Executive Rasmus Errboe acknowledged Equinor’s support as Ørsted’s second-largest shareholder but said the company remains focused on delivering its existing business plan. “I’ve noted the comments from Equinor,” he said. “Our focus, my focus, is to deliver on our plans, on our strategy, quarter by quarter.”
Errboe added that he was confident Ørsted has a business model well suited for offshore wind operations.
In September, Equinor reiterated that it would remain a long-term investor in Ørsted and said it planned to nominate a candidate to the company’s board.
Ørsted’s largest shareholder remains the Danish government, holding a 50% stake in the company.
