Ørsted has raised DKr59.56bn ($9.35bn) through a rights issue to strengthen its capital structure and support ongoing projects. This rights issue allowed existing shareholders, including the Danish state, which holds a 50.1% stake, and new investors with acquired pre-emptive rights, to subscribe to new shares. The Danish offshore wind company issued the new shares at a subscription ratio of 15:7 and a price of DKr66.60 per share. Existing shareholders or new investors with pre-emptive rights have subscr ...

Iberdrola has outlined plans to invest €58bn ($68bn) by 2028, directing the bulk of its capital towards power networks in the UK and the US. The Spanish utility is pivoting its strategy to transform its profile, focusing more on regulated grid assets. The company said the investment will be funded by mid-to-high single-digit earnings growth and will be concentrated in countries with stable regulatory frameworks. Approximately 85% of all capital spending will go to these markets. Electricity grids are ...

Core Viewpoint - Northland Power Inc. reported its financial results for Q2 2025, highlighting significant construction milestones and operational performance despite challenges from below-average wind levels in Europe [2][10]. Financial Performance - Revenue from energy sales in Q2 2025 was $509 million, a decrease of 4% from $529 million in Q2 2024 [8][9]. - Net loss for Q2 2025 was $53 million, compared to a net income of $262 million in Q2 2024 [8][22]. - Adjusted EBITDA for Q2 2025 was $245 million, down 9% from $268 million in Q2 2024 [8][25]. - Free Cash Flow per share was $0.22 in Q2 2025, compared to $0.27 in Q2 2024, reflecting a 15% decrease [8][29]. - Cash provided by operating activities was $451 million in Q2 2025, significantly higher than $171 million in Q2 2024 [8][27]. Project Updates - The Oneida Energy Storage Project, a 250 MW/1.0 GWh facility, commenced commercial operations ahead of schedule and under budget [7]. - The Hai Long Offshore Wind Project achieved first power during the quarter and remains on track for full operations in 2027 [7]. - The Baltic Power Offshore Wind Project is progressing with onshore substation construction and is expected to commence full operations in the second half of 2026 [7]. Operational Highlights - Overall commercial availability was reported at 95% for Q2 2025 [2][12]. - Electricity production from offshore wind facilities decreased by 19% or 174 GWh compared to Q2 2024, primarily due to lower wind resources [12]. - Onshore renewable and energy storage facilities saw a 7% increase in electricity production, attributed to favorable wind conditions in New York and Canada [14]. Guidance Update - The company revised its full-year financial guidance for Adjusted EBITDA to a range of $1.2 billion to $1.3 billion, down from the previous range of $1.3 billion to $1.4 billion [34]. - Free Cash Flow per share guidance was adjusted to between $1.15 and $1.35, compared to the earlier projection of $1.30 to $1.50 [34].