sur Ãrsted A/S (isin : DK0060094928)
Revolution Wind Faces Work Halt by US Authorities
On August 22, 2025, Ørsted A/S's subsidiary, Revolution Wind LLC, received a directive to cease offshore activities from the US Department of the Interior's Bureau of Ocean Energy Management (BOEM). This order impacts the Revolution Wind project, currently 80% finished, with most foundations and 45 wind turbines installed.
Ørsted is examining potential resolutions, engaging with permitting agencies, considering legal options, and moving towards targeting completion by late 2026. The project's scope includes a 20-year agreement to supply power to Rhode Island and Connecticut, showcasing substantial contributions to local energy needs.
Revolution Wind, backed by full federal and state permits, supports local employment and infrastructure. Ørsted is assessing financial impacts, discussing the project’s status, and planning a future market update regarding the order's implications on their recent financial strategies.
R. H.
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