Bloomberg News reports that Orsted, the energy firm, is considering a rights issue of up to 5 billion Euros.

Bloomberg News, citing sources familiar with the situation, reported Friday that Orsted, a Danish energy company, is looking to raise up to 5 billion euros ($5.83billion) through a rights offer in order for it consolidate its finances.

If Orsted decides proceed, then the fundraising plan may be announced within the next few weeks.

Orsted's value has plummeted from its peak in 2021, due to rising costs and disruptions in the supply chain. Investor confidence has been further undermined by President Donald Trump's opposition against offshore wind.

The company operates onshore and offshore wind, storage, and solar across Texas, as well as the U.S. Midwest, East Coast, and Midwest markets.

Orsted declined comment on the Bloomberg article. The report said that there is no guarantee that a deal will be completed, and that the size and timing could change depending on the market conditions.

Rasmus Errboe is the new CEO of Orsted. He has to restore investor confidence, streamline the company, and adapt it to the changing offshore wind industry.

The Danish company cancelled its plans to build an offshore wind farm near Britain in May. They cited a worsening business climate for renewables.

The company's 2025 outlook, which excludes new partnerships and cancellation charges, was unchanged during its first-quarter earnings. The company is expected to announce its 2025 half-year results on August 13th.

(source: Reuters)