Horses return to Ortide after Trump intensified attacks on the outer wind

Norwegian oil giant Timing On Monday, I pledged to support the Orsted in Denmark about one billion dollars in the new capital, and to support the besieged company Continuous attacks In marine wind projects from the Trump administration.

In a clear display of confidence in the largest wind developer in the world, Equinor signal Its intention to participate in the Ortid scheme 60 billion Danish kronor (9.4 billion dollars) The case of rights and said it aims to adhere to its ownership by 10 % in the company.

Equinor said its strategic support for the issue of rights reflects its confidence in the basic ORSted works and the competitiveness of the marine winds in the future energy mix. The Norwegian Energy Group, backed by the state, is the second largest shareholder in Ortid, behind the Danish government.

As part of this step, Equinor said it would nominate a candidate for the Opsted Board of Directors.

ORSCE shares increased by 3.6 % on the news, before peeling gains. The share price, which decreased by approximately 90 % from 2021, has achieved the peak a A new low record Last month, after the Trump administration ordered the company to stop work on nearby wind ground.

The treason shares were seen last 0.2 % on Monday morning.

Both companies were conveying challenges on the marine wind industry, as timing says it is monitoring close developments in the United States, and that it intends to stay in a dialogue with Orsted.

The wind industry has been a target for US President Donald Trump since then The first day in the office. A later blow came on Friday when it was the US Department of Transport He canceled 679 million dollars In federal funding for dozens of infrastructure projects that will support marine wind energy throughout the country.

“The Haddron Wind Projects, use resources that can tend to revitalize the American marine industry,” Transport Minister Sean Duffy He said In a statement.

Analysts at RBC Capital Markets said that the Equinor step to support ORSTED can be considered a first step for the company given the possibility of a possible integration between the two marine winds.

“The challenge of full participation is that the company will effectively increase its pure exposure to 100 % US marine wind projects, which none of them seems to be cultivated in the short term, and where political support is still uncertain,” said analysts at RBC Capital Markets in a research note.

“The additional positivity is that besides the preservation contribution, the timing will now have to represent the Board of Directors, which achieves the utmost benefit from the difficult situation.”

Equinor spokesperson and ORSted did not immediately respond to CNBC’s request for comment.

– Spencer Kimbal & Gunish Rao of CNBC contributed to this report.