OSLO (Reuters) - Norway's Equinor ( EQNR ) said on Monday it has bought a 9.8% stake in Danish renewable energy group Orsted valued at around $2.5 billion, making it the second largest shareholder after the government of Denmark.

Orsted's share price rose on the news, trading 2.8% higher at 1028 GMT, while Equinor's ( EQNR ) shares fell by 2.3%.

Orsted did not immediately respond to a request for comment.

Equinor ( EQNR ) said it had a long-term perspective on the investment but did not plan to raise its stake beyond 10%.

"This is a counter-cyclical investment in a leading developer, and a premium portfolio of operating offshore wind assets," Equinor ( EQNR ) CEO Anders Opedal said.

"The exposure to producing assets complements Equinor's ( EQNR ) operated offshore wind portfolio of large projects under development," he added.

Equinor ( EQNR ) is supportive of Orsted's strategy and management, and is not seeking board representation, the Norwegian group said.

Equinor's ( EQNR ) ownership position was built over time, through a combination of market purchases and a block trade, it added.