Equinor has finalized the acquisition of a 10% stake in Ørsted, becoming the Danish renewable energy company's second-largest shareholder after the Danish State. The investment, valued at USD 2.3 billion (approximately EUR 2.2 billion), was made at a volume-weighted average price of DKK 398.5 per share.

The acquisition was first announced in October 2024 and involved the purchase of 9.8% of Ørsted's shares--41,197,344 shares--through market purchases and a block trade. Following regulatory approval under Foreign Direct Investment regulations, Equinor completed the deal by acquiring an additional 0.2% (840,764 shares) on 23 December.

Equinor CEO Anders Opedal described the investment as a strategic move aligned with the company's focus on offshore wind development. "This investment complements our portfolio by providing exposure to operating offshore wind assets, while supporting Ørsted's strategy and management," said Opedal.

The acquisition strengthens Equinor's commitment to renewable energy and bolsters its portfolio of large-scale offshore wind projects under development. Despite the significant stake, Equinor has stated it does not plan to seek board representation at Ørsted.