MW Wind-farm operator sees its second catastrophic day this month after Trump administration halts 80% completed project

By Steve Goldstein

Orsted shares plunged to a new record low on Monday.

Wind-turbine operator Orsted suffered its second catastrophic day in the stock market this month, skidding to a new record low on Monday after the Trump administration halted work on a nearly complete project.

The U.S. Bureau of Ocean Energy Management late Friday ordered a halt to all activities on the Revolution Wind Project offshore of Rhode Island. It cited unidentified national-security concerns as well as prevention of "interference with reasonable uses of the exclusive economic zone."

According to Orsted, the project was 80% complete with all offshore foundations installed and 45 out of 65 wind turbines installed.

Revolution Wind is jointly owned by Orsted and BlackRock's $(BLK)$ Global Infrastructure Partners.

Orsted (DK:ORSTED), whose shares plunged 30% earlier this month after a profit warning, skidded another 17% in Copenhagen trade on Monday. The stock is down nearly 45% this year.

Analysts at JPMorgan say investors also will price in the risk of another project, Sunrise Wind, getting a similar order.

Orsted said it will evaluate all options as it hopes to complete by the second half of 2026. Orsted says a similar project, South Fork Wind, which is adjacent to Revolution Wind and uses the same turbine technology, delivered reliable energy to New York at a capacity factor of 53% for the first half of 2025.

President Donald Trump has on multiple occasions stated his opposition to wind turbines, which he calls "windmills."

-Steve Goldstein

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August 25, 2025 07:40 ET (11:40 GMT)

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