Renewables giant Orsted on Friday received approval from shareholders for its emergency 60 billion Danish kroner ($9.4 billion) rights issue, shortly after issuing a fresh profit warning.
Orsted’s pitch to raise the capital comes at a time of profound industry turmoil, amid sustained attacks by U.S. President Donald Trump on offshore wind projects.
The White House abruptly ordered the company to halt work on Revolution Wind off the coast of Rhode Island and Connecticut last month. The fully permitted project is 80% complete and would provide enough power for more than 350,000 homes across both states.
Orsted has since sued the Trump administration in a bid to restart construction on the windfarm.
In a statement following Friday’s extraordinary general meeting, the company said its closely watched rights issue had been approved by shareholders.
