Andel will participate in Ørsted’s rights issue, investing DKK 3 billion and maintaining its 5 percent ownership share. The Board of Directors and Executive Management consider this an act of responsible ownership to support Ørsted’s Danish activities and to ensure Ørsted has the necessary development capacity to help achieve global CO₂ reductions.
Despite significant challenges in the United States, Ørsted remains the world’s leading developer of offshore wind and a key pillar in transforming the energy system towards a greener future. At the same time, the company is a central part of Denmark’s energy supply.
Andel’s Board of Directors and Executive Management have decided to participate in Ørsted’s rights issue by buying new shares for DKK 3 billion, thereby maintaining the Group’s existing 5 percent ownership share.
“We regard this as a responsible ownership decision to help Ørsted secure the necessary development capacity to deliver global CO₂ reductions. At the same time, it is important for us to support Ørsted’s Danish infrastructure and energy production,” says Jesper Hjulmand, Group CEO of Andel.
He emphasizes that Andel as a cooperative society invests with a long-term and patient perspective. By participating in the rights issue, Andel will contribute to stabilizing Ørsted while also protecting the value of its own strategic asset.
“If we choose not to participate, our ownership share would be heavily diluted and lose significant value. We believe that the value and potential of Ørsted exceed what is currently reflected in the share price and financial results. By participating, we strengthen Andel’s strategic asset – both now and in the longer term,” says Jesper Hjulmand.
Implications for future renewable energy investments
Andel considers its Ørsted shares to be part of the business area Energy Production.
The decision to participate in the rights issue will affect the Group’s investment capacity in future investment decisions regarding new renewable energy production, such as large-scale Danish solar projects and offshore wind tenders.
“Our strategy remains firm: Andel aims to deliver the maximum possible impact on the green transition for every DKK invested – thereby creating value for cooperative members, customers, and society.
“We will continue large-scale investments in areas such as the electricity grid, EV charging networks and smart digital customer solutions that accelerate the electrification of Denmark. Electrification is the key to phasing out fossil fuels, as it creates the need for more new renewable energy production and ensures balance in the energy system of the future,” says Jesper Hjulmand.
Further Information
Andel Media Relations
Morten Kidal; +45 2170 3799
Jonas Rimer Henriksen; +45 2774 4314
