US Bureau of Ocean Energy Management issued a work-stop order on Friday for the $1.5bn Revolution Wind project
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Reuters
Shares in Orsted plunged 17pc yesterday after the US halted the Danish company’s Revolution Wind project off Rhode Island amid president Donald Trump’s pushback on renewable energy investments.
Orsted, the world’s biggest offshore wind-farm developer, has already faced mounting challenges, including rising costs, higher interest rates, and supply chain disruptions, leading to delays and cancellations in the US and other markets. The company’s market value has plummeted 87pc since its January 2021 peak.
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