Wind Firm Orsted’s Key Shareholder Andel Joins Financing Plan

The third-largest shareholder in Orsted A/S plans to participate in the wind developer’s rights issue and defend its roughly 5% stake in the company.

Danish energy company Andel Holding A/S will exercise its right to buy additional shares in Orsted, investing 3 billion kroner ($474 million), it said in a statement on Tuesday. Andel’s participation represents a much-needed show of confidence from a major shareholder, after the Danish state and Equinor ASA already said they would buy shares in the offering.

Orsted now has commitments from nearly two thirds of its shareholder base as the company works to raise about ...