Ørsted seeks injunction against US government over project freeze
In October, Ørsted raised $9 billion from investors in a rights offering after Trump’s attempts to block a rival developer’s project scared off investors.
The U.S. government later issued a stop-work order against the company’s $1.5 billion Revolution Wind project off the coast of Rhode Island, although Ørsted persuaded a judge to lift the order.
In November, Ørsted agreed to sell half of the world’s largest offshore wind farm to Apollo in a $6.5 billion deal. Then, on Dec. 22, the company was ordered by the U.S. government to suspend “all ongoing activities on the Outer Continental Shelf for the next 90 days.”
According to the company, the Revolution Wind project is now approximately 87% complete, with 58 of its 65 wind turbines installed.
Although Trump has made Ørsted’s planned offshore wind projects in the United States much more difficult, his problems predate his administration.
In 2023, the company had to abandon two major projects in the United States due to rising costs that affected the entire sector.
In a statement on Ørsted’s legal challenge, White House spokesperson Taylor Rogers said: “For years, Americans have been forced to pay billions more for the least reliable source of energy. The Trump administration has suspended construction of all large-scale offshore wind projects because our number one priority is putting America first and protecting the national security of the American people.”
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