A political storm brewing in Washington D.C. has capsized Danish renewable energy leader Ørsted, forcing it into an historic $9 billion plea for emergency funds. The company’s stock value has been decimated, hitting a record low as investors react to the fallout from the Trump administration’s aggressive anti-wind energy policies.
The core of the crisis is a policy-driven paralysis of the US offshore wind sector. The White House has initiated a review of all leasing and permitting, effectively stopping new projects in their tracks. This has shattered Ørsted’s financial strategy, which depended on selling stakes in these very projects to generate capital.
Rasmus Errboe, the company’s chief executive, has not minced words, calling the situation “extraordinary.” He pointed to the combination of US policy hostility and ongoing supply chain woes as the twin forces compelling the company to seek such a massive amount of emergency capital, a move that has deeply unsettled the market.
The Danish state, which owns half of the company, has pledged its support for the fundraising. However, the event underscores the profound uncertainty now facing one of the world’s most critical renewable energy markets, with experts warning of a potential reshaping of the industry and a setback for climate goals.