Trump’s Offshore-Wind Halt Risks $28 Billion of Investment
States on the east coast of the US had seen the wind farms at sea as a key way to boost much-needed power supply growth as well as reach climate goals.
Photographer: Eric Thayer/BloombergTakeaways NEW
With an order to halt work on a wind farm off the coast of New York, the Trump administration dealt the offshore wind industry a damaging blow that puts $28 billion of investment at risk.
On Wednesday, Interior Secretary Doug Burgum posted on X that he’d ordered a pause on Equinor ASA’s Empire Wind project off Long Island. The project was already well underway - permits and supplies lined up, $3 billion in project financing agreed and the construction phase had begun.