The Anonymous Widower

Ørsted Raises EUR 7.98 Billion In Oversubscribed Rights Issue

The title of this post, is the same as that of this article on offshoreWIND.biz.

This is the sub-heading.

Ørsted has completed its rights issue, raising DKK 59.56 billion (approximately EUR 7.98 billion) with a subscription rate of approximately 99.3 per cent, the company said on 6 October.

These two introductory paragraphs add more details.

Existing shareholders were offered new shares at DKK 66.60 (EUR 8.92) each. The demand for shares not taken up via the rights issue was “extraordinarily high,” according to the developer’s announcement of the Rights Issue results, and allocations were capped per application, meaning no subscriptions were required under the underwriting bank syndicate.

As reported in August, the company appointed a syndicate of BNP PARIBAS, Danske Bank A/S and J.P. Morgan SE as Joint Global Coordinators, next to Morgan Stanley & Co International, to jointly underwrite the rights issue for the approximately 49.9 per cent that would not be subscribed to by Ørsted’s majority shareholder, the Danish state (50.1 per cent).

I dread to think what spiteful punishment that Trumpkopf will inflict on Ørsted.

But the oversubscribed Rights Issue may be good news  for the UK.

Ørsted has only one major project under development or construction in the UK.

But it is the large Hornsea Three wind farm, which  has this opening paragraph on its web site.

Hornsea 3 Offshore Wind Farm will deliver enough green energy to power more than 3 million UK homes. An £8.5 billion infrastructure project, Hornsea 3 will make a significant contribution toward UK energy security, as well as the local and national economy.

Note.

1. Ørsted are raising £7.98 billion and spending £8.5 billion, which must do something for the UK’s economy.
2. Hornsea 3 will have a generating capacity of 2.9 GW.
3. Ørsted  are now delivering the world’s single largest offshore wind farm.
4. Hornsea 3 will connect to the National Grid at Swardestone in Norfolk.

In Grid Powers Up With One Of Europe’s Biggest Battery Storage Sites, I describe how the 300 MW/600 MWh Swardestone BESS will be built, where Hornsea 3 connects to the grid.

As Swardestone will have 2.9 GW from Hornsea 3 and a powerful battery, I would expect someone will be looking to site a data centre or something with a need for a lot of stable electricity at or near Swardestone.

In Opportunity For Communities To Have Their Say On National Grid Proposals For Norwich To Tilbury Project, I talk about a line of pylons between Swardestone and Tilbury and show this map of the route.

This page on the National Grid web site has an interactive version of this map.

Note.

1. The mauve line indicates the route of the Norwich to Tilbury project.
2. Swardestone is at the Northern end of the project a few miles South of Norwich.
3. Tilbury is at the Southern end of the project on the Thames estuary.
4. The project connects Norwich, Ipswich, Colchester and Chelmsford to Hornsea 3 at Swardestone.
5. I suspect the project will connect to Ipswich at the Bramford substation.
6. The Sizewell nuclear site is to the North-East of Woodbridge and connects to the grid at the Bramford substation.

I know East Anglia well and I would suspect that Norwich, Ipswich, Colchester, Chelmsford and Southend-on-Sea could support one or more data centres.

Conclusion

I asked Google AI, who owns Hornsea 1 and received this reply.

Hornsea 1 is owned by a partnership including Ørsted, Equitix, TRIG, GLIL, Octopus, and Brookfield, with Ørsted also providing the operational management. A 2018 agreement between Ørsted and Global Infrastructure Partners (GIP) originally established the 50/50 joint venture for the project.

I then asked Google AI, who owns Hornsea 2 and received this reply.

The ownership of the Hornsea 2 wind farm is shared between several entities, including a 37.55% stake held by Ørsted, a 25% stake each by AXA IM Alts and Crédit Agricole Assurances, and a 12.45% stake held by Brookfield. The wind farm is located offshore in the UK’s North Sea, approximately 89 km off the Yorkshire coast.

In November 2019, I also wrote World’s Largest Wind Farm Attracts Huge Backing From Insurance Giant.

It does seem to me that  Ørsted  are past masters of developing a wind farm, then selling it on and using that money to develop the next wind farm.

The Rights Issue just makes that process easier.

October 7, 2025 Posted by AnonW | Computing, Energy, Energy Storage, Finance | Ørsted, Bramford substation, Chelmsford, Colchester, Data Centre, Donald Trump, East Anglia, Hornsea Wind Farm, Ipswich, National Grid Norwich To Tilbury Project, Norwich, Offshore Wind Power, Sizewell, Sizewell B Nuclear Power Station, Sizewell C Nuclear Power Station, Southend, Swardeston BESS, Wind Power | Leave a comment