Stopped the construction of offshore wind energy in the USA

• Ørsted has halted the construction of the offshore wind energy project Revolution Wind due to a directive from the Trump administration.
• The project is already 80% complete and is expected to provide energy for over 350,000 households.
• Politicians are calling for a resumption of work to avoid job losses and rising electricity prices.

The actions of Ørsted have reached a historic minimum on Monday, after the Trump administration indicated it would stop construction of the offshore wind energy project Revolution Wind, which is located near the shores of Rhode Island. The project is already 80% complete, with 45 out of 65 wind turbines installed.

The halt in construction occurred after the U.S. government expressed the need to review the project due to national interests without providing additional details. Politicians from Rhode Island and Connecticut urged the Trump administration to allow work to resume, as this could threaten local jobs and electricity prices in the region.

Rhode Island and Connecticut intend to realize this project, as it is expected to provide energy for over 350,000 households. The price of electricity for the project is set at 9.8 cents per kilowatt-hour over 20 years, which is lower than the average price in the region.

The company Ørsted, which is the project developer, is considering financial implications of the construction halt and may initiate legal actions. Recently, the company's shares have dropped more than 30% since the beginning of the year.

The Trump administration had previously halted work on other offshore wind projects, including Empire Wind in New York, but later allowed construction to resume.

Tags: USA/Politics/Energy