Orsted challenges US halt of its $5 billion offshore wind project

The Trump administration suspended leases on Monday for five large offshore wind projects that are under construction off the U.S. East Coast over what it called national security concerns, sending shares of offshore wind companies plunging.
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The suspension was the latest blow for offshore wind developers that have faced repeated disruptions to their multi-billion-dollar projects under U.S. President Donald Trump, who has said he finds wind turbines ugly, costly and inefficient.
Orsted said in a statement on Friday that Revolution Wind was about 87% complete and that at the time of the lease suspension order, the project was expected to begin generating power as soon as January 2026.