On Dec 22, the United States Department of Interior (DOI) issued a stop-work order for five offshore wind farm projects due to “national security risks” identified by the Department of War.
Seatrium says that revenue is being recognised for its nearly-completed US offshore wind projects — Empire Wind 1 and Revolution Wind — even as the sector is hit by a government suspension.
"The projects are on progressive milestone payments and revenue would be recognised as per usual practice of completion percentage methodology," says a spokesperson to The Edge Singapore on Dec 23. Seatrium adds that it continues to “closely monitor” the developing situation.
