Danish energy leader Ørsted is taking emergency measures, scrambling to raise $9 billion after the US market for offshore wind was effectively shut down by the Trump administration. The news triggered the company’s worst trading day ever, with its stock price crashing to a record low.
The market shutdown was orchestrated through a policy that freezes all wind energy permitting and leasing. This has cut off Ørsted’s primary method for financing its multibillion-dollar projects: selling equity stakes to partners.
The “extraordinary” situation was confirmed by CEO Rasmus Errboe, who pointed to the dual pressures of US political hostility and ongoing supply chain problems. The scramble for cash is a direct consequence of this hostile and unpredictable business environment.
The Danish state, which owns half of Ørsted, has approved the rescue plan. However, the incident has created a crisis of confidence in the renewable energy sector, with the US now viewed as a high-risk market, potentially jeopardizing global climate progress.