Trump, offshore wind
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Although the news afford Orsted shares some relief at this stage, securing future investment for other projects is problematic owing to the regulatory environment.
The Copenhagen-listed company rallied in early trading after Revolution Wind, its joint venture with Skyborn Renewables, on Monday won its request to the US District Court of Columbia for a preliminary injunction blocking the suspension.
Orsted A/S shares surged after a US judge ruled work can resume on a wind farm off the coast of Rhode Island while it challenges the government’s latest attempt to stop offshore projects from being built.
The report, cheekily named “Build SHIIT Now,” says 580,000 jobs, 24 gigawatts and more than 250 projects are at risk in Washington state due to bureaucratic delays.