The saga over Equinor ASA’s Empire Wind 1 project had thrown into question US$28 billion of offshore wind investments in the US. Although the White House’s broader opposition to offshore wind is still very much in effect, it appears that the worst case scenario for the industry’s biggest players will be avoided, at least for now.
The Trump administration’s surprise reversal of an order to halt a US$5 billion wind energy project off the coast of New York offered some respite to a beleaguered industry whose future in the US has been in doubt.
Denmark’s Orsted AS jumped as much as 15%, the most in more than three years, and Vestas Wind Systems AS climbed as much as 5.7% in Copenhagen. Equinor gained up to 1.9% in Oslo.
