Equinor Backs Orsted Share Sale Despite Trump Targeting Wind

Equinor ASA will spend almost $1 billion backing Orsted A/S’s share sale, in a crucial show of support as the Danish firm seeks to steady its finances following the Trump’s administration’s attacks on offshore wind.

The Norwegian energy company plans to maintain its 10% stake in Orsted by subscribing for as much as 6 billion Danish kroner ($940 million) of new shares in the wind developer. Backing from Equinor — Orsted’s second-biggest shareholder — is seen as crucial to getting wider support from investors for the proposed 60 billion-krone ($9.4 billion) capital raise.

Equinor is doubling down on ...