Danish energy firm Ørsted is taking a $9 billion gamble, a desperate bet on its ability to survive in Trump’s America. The company announced the massive emergency fundraising plan after its stock plummeted to an unprecedented low, a direct result of the administration’s hostile policies towards renewable energy.
The gamble was forced by a US policy that has frozen the offshore wind sector, a key market for Ørsted. A review of all permits and leases has blocked the company’s ability to finance its projects by selling equity, shattering its financial stability.
The company’s chief executive, Rasmus Errboe, called the situation “extraordinary,” highlighting the severe challenge posed by US political antagonism combined with supply chain issues. The $9 billion fundraising is a high-stakes move to weather the storm.
The Danish government, a 50% stakeholder, is backing the bet. However, the crisis has fueled deep skepticism among investors and raised alarms about the future of the entire US renewable energy market, which is now fraught with political uncertainty.