From Leader to Loser: How US Politics Triggered Ørsted’s Worst-Ever Market Crash

In a stunning reversal of fortune, Danish wind leader Ørsted has gone from market leader to massive loser, suffering its worst-ever stock crash. The plunge was triggered by a $9 billion emergency fundraising announcement, a move made necessary by hostile US politics under the Trump administration.
The company’s downfall is linked to a targeted freeze of the US offshore wind industry. By launching a review of permits and leases, the administration has blocked Ørsted’s ability to finance its projects by selling equity—the standard operating procedure for developers in this capital-intensive field.
This “extraordinary” situation, as described by CEO Rasmus Errboe, has been fueled by the combination of political antagonism from Washington and ongoing logistical challenges. The desperate search for $9 billion in capital is a direct result of this hostile takeover of the market environment.
While Denmark’s government stands by its national champion, the crisis has exposed the vulnerability of green investments to political shifts. The fallout from Ørsted’s crash could reshape the renewable energy sector, as companies reassess the risks of investing in a politically volatile US market.