Orsted Shares Plunge Following U.S. Government Halt on Wind Projects
Shares of Orsted plummeted 17% to a record low after the Trump administration ordered a halt on the nearly complete Revolution Wind project off the coast of Rhode Island. This decision has affected hundreds of jobs and has drawn criticism from local officials and governors in New England, who argue it undermines regional energy efforts. The Revolution Wind project, already 80% complete and valued at $4 billion, was paused amid unspecified national security claims. The halt has raised concerns about the future of offshore wind projects in the U.S. and their impact on the green energy sector, as Orsted faces significant financial pressures following this setback.
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