COPENHAGEN, Jan 13 (Reuters) – Shares of Danish offshore wind developer Orsted jumped 5.1% on Tuesday after a U.S. court cleared the company to resume work on its nearly completed Revolution Wind project, easing fears of massive financial losses.
Offshore wind developers have faced repeated disruptions to multi-billion dollar projects under U.S. President Donald Trump, who has said he finds wind turbines ugly, expensive and inefficient.
The company’s lawsuit is one of several filed by offshore wind companies and states seeking to reverse the Interior Department’s December 22 suspension of five offshore wind leases over what it said were national security concerns.
(Reporting by Stine Jacobsen, editing by Terje Solsvik)