Burbo Bank, Liverpool Bay, England, viewed from the sea turbines on Burbo wind farm off the U.K. coast.
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Danish renewables giant Orsted on Friday received approval from shareholders for its emergency $9.4 billion rights issue, shortly after the crisis-stricken company issued a fresh profit warning.
Orsted’s pitch to raise the capital comes amid turmoil caused by U.S. President Donald Trump’s sustained attacks on offshore wind projects. The White House ordered the company to halt work on a nearly complete windfarm last month, prompting the firm’s shares to hit a record low.
Orsted said in a statement published Friday that the 60 billion Danish krone ($9.4 billion) rights issue was approved at an extraordinary general meeting. Earlier in the day, the company had cut its full-year operating profit outlook following lower-than-normal offshore wind speeds during July and August.
Shares of the company, which have fallen nearly 90% from a 2021 peak, were last seen up around 2.2% on the news.
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