JL MARINE & ENGINEERING CORP LTD
JL OFFSHORE & ENGINEERING CO LTD
JL MARINE & ENGINEERING (CHINA) CO LTD
JL ASSOCIATED COMPANIES ·

News

Equinor buys 9.8% stake in offshore wind developer Orsted By Nora Buli and Jacob Gronholt-Pedersen
image.png
image.png

OSLO/COPENHAGEN, Oct 7 (Reuters) - Norway's Equinor (EQNR.OL), opens new tab has bought a 9.8% stake valued at around $2.5 billion in Danish offshore wind farm developer Orsted (ORSTED.CO), opens new tab, it said on Monday, as it seeks to build up its renewables portfolio.
Orsted shares have dropped 69% from their 2021 all-time high as the offshore wind sector has faced surging costs and technical problems with turbines.
But Equinor said its share acquisition was a long-term bet on the sector, after the Norwegian company made slow progress on reaching its ambitious renewable energy targets.


^