The Equer supports Orsted after Trump has accelerated attacks on the offshore wind

Norwegian oil giant Equineer On Monday, undertook to support Denmark orrsted with nearly a billion dollars of new capital, supporting the besieged company in the middle of attacks supported against offshore wind projects from the Trump administration.

In an apparent demonstration of confidence in the largest offshore offshore developer in the world, Equinor reported his intention to participate in the issue of rights of 60 billion Danish Krone ($ 9.4 billion) of Orsted and said that he intended to keep his property of 10% in the company.

Equinor said that his strategic support for the question of rights reflects his confidence in the underlying activities of Orsted and the competitiveness of the offshore wind in the future energy mixture. The Norwegian Energy Group supported by the State is the second largest shareholder in Orsted, behind the Danish government.

As part of this decision, Equinor said that she would appoint a candidate for the Board of Directors of Orsted.

Orsted actions increased by 3.6% on news, before making earnings. The share price, which is down almost 90% compared to a 2021, marked a new record last month after the Trump administration ordered the company to stop the work on an almost complete heap.

Equinor’s shares were seen for the last time 0.2% higher on Monday morning.

The two companies have covered challenges around the offshore wind industry, Equinor saying that she was closely monitoring developments in the United States and that she intends to stay in dialogue with Orsted.

The wind industry has been a target for US President Donald Trump since his first day in power. The last blow came on Friday when the US Department of Transport canceled $ 679 million In federal funding for a dozen infrastructure projects that would support offshore wind energy on a national scale.

“Set of waste and wind turbines use resources that could otherwise revitalize the American maritime industry,” said Sean Duffy, transport secretary, in a statement.

RBC Capital Markets analysts said Equinor’s decision to support Orsted could be considered a first step for the company by considering the possibility of a potential merger between the two offshore wind portfolios.

“The challenge of participating fully is that the company will effectively increase its net exhibition in two 100%offshore wind projects, neither seems to be cultivated in the short term, and where political support remains uncertain,” said RBC Capital Markets analysts in a research note.

“The incremental positive is that in parallel with its maintained participation, Equinor will now have a representation of the board of directors, drawing the best party from a difficult situation,” they added.

Equinor and Orsted spokesperson did not immediately respond to a CNBC comment request.

– Spencer Kimball and Ganesh Rao of CNBC contributed to this report.