Danish wind giant Ørsted has issued a $9 billion financial SOS to its shareholders, a cry for help after its business was ravaged by a hostile US market under the Trump administration. The plea came as the company’s stock sank to a record low, wiping out a huge portion of its value.
The company’s distress call stems from its inability to finance its US projects. Its standard model of selling project stakes to cover costs has been blocked by Trump’s policies, which have devalued its US assets and made them unsellable. This directly impacts its major plans for the eastern seaboard.
The hostility was underscored when the administration halted a Norwegian developer’s approved project, signaling that no company was safe. This political risk is layered on top of existing economic pressures, including supply chain bottlenecks and rising interest rates that have squeezed the industry.
The Danish government is answering the SOS by backing the massive fundraising effort. CEO Rasmus Errboe called the situation “extraordinary,” and hopes the capital will reinforce the company’s ability to complete its US projects and meet its ambitious global renewable energy targets.