financetom
Business
financetom
/
Business
/
US halts work on Orsted offshore wind project off Rhode Island
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US halts work on Orsted offshore wind project off Rhode Island
Aug 22, 2025 4:36 PM

(Reuters) -The Trump administration on Friday ordered Denmark's Orsted to halt all activities related to its Revolution Wind project off the coast of Rhode Island, according to a letter posted on the website of the Bureau of Ocean Energy Management.

The stop work order is related to unspecified national security concerns arising from the administration's review of offshore wind projects in federal waters, the letter, signed by BOEM acting Director Matthew Giacona, said.

"In particular, BOEM is seeking to address concerns related to the protection of national security interests of the United States and prevention of interference with reasonable uses of the exclusive economic zone, the high seas, and the territorial seas," Giacona said.

The letter was addressed to Rob Keiser, head of asset management for Orsted's North American business. Orsted was not immediately available for comment.

The move is the administration's latest in a string of efforts to hinder offshore wind and clean energy development.

On his first day in office earlier this year, President Donald Trump suspended new offshore wind leasing pending an environmental and economic review of projects. He has repeatedly criticized wind energy as ugly, unreliable and expensive.

Earlier this month, Orsted asked shareholders for $9.4 billion to help fund another U.S. project because potential partners were put off by Trump's hostility to wind power.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
BriaCell Therapeutics Closes Offering of 5.13 Million Shares, Warrants
BriaCell Therapeutics Closes Offering of 5.13 Million Shares, Warrants
Oct 2, 2024
05:46 PM EDT, 10/02/2024 (MT Newswires) -- BriaCell Therapeutics ( BCTX ) said it closed an offering of about 5.13 million shares and warrants at a combined price of $0.975 per share and associated warrant, targeting gross proceeds of about $5 million. The warrants are for purchasing up to about 5.13 million shares, the company said late Wednesday. They have...
Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports
Toyota to delay US EV production to 2026 amid slowing sales, Nikkei reports
Oct 2, 2024
Oct 3 (Reuters) - Japanese automaker Toyota Motor ( TM ) would postpone the production of electric vehicles at its Kentucky plant in the US to the first half of 2026, citing design adjustments and slowing sales, the Nikkei business daily reported on Thursday. ...
New Fortress Energy Sees $725 Million in New Capital From Debt, Equity Transactions
New Fortress Energy Sees $725 Million in New Capital From Debt, Equity Transactions
Oct 2, 2024
06:06 PM EDT, 10/02/2024 (MT Newswires) -- New Fortress Energy ( NFE ) said Wednesday it expects to raise $725 million in new capital from its debt and equity transactions, which will provide sufficient liquidity for its initiatives and help generate positive free cash flow in 2025. The company said it will issue roughly $2.6 billion in senior secured notes...
Murphy Oil Names Eric Hambly as CEO
Murphy Oil Names Eric Hambly as CEO
Oct 2, 2024
05:45 PM EDT, 10/02/2024 (MT Newswires) -- Murphy Oil ( MUR ) named Eric Hambly as chief executive officer, effective Jan. 1. He succeeds Roger Jenkins, who will serve as a nonexecutive adviser until his retirement on Dec. 31, 2025, the company said Wednesday in a statement. Hambly became chief operating officer in February. Price: 35.03, Change: +0.40, Percent Change:...
Copyright 2023-2026 - www.financetom.com All Rights Reserved