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COPENHAGEN, Jan 13 (Reuters)\u00a0\u2013\u00a0Orsted<\/a>\u00a0shares jumped 6% on Tuesday after a U.S. court\u00a0cleared\u00a0the Danish offshore wind developer to resume work on its nearly completed Revolution Wind project, easing fears of multibillion-dollar losses.<\/p>\n The ruling comes after repeated disruptions to offshore wind projects under U.S. President Donald Trump, who has criticized wind turbines as ugly, costly and inefficient.<\/p>\n Orsted\u2019s lawsuit is among several filed by offshore wind companies and states seeking to overturn the Interior Department\u2019s December 22\u00a0suspension\u00a0of five offshore wind leases over what it said were national security concerns.<\/p>\n RESUMING WORK AS SOON AS POSSIBLE<\/p>\n Revolution Wind, built with Siemens Gamesa turbines, is designed with a capacity to deliver 704 megawatts of electricity to Rhode Island and Connecticut.<\/p>\n \u201cNow our focus is on safely resuming construction work as soon as possible and moving towards delivering reliable and affordable electricity to 350,000 homes,\u201d\u00a0Orsted\u00a0CEO Rasmus Errboe said in a statement late on Monday following the ruling.<\/p>\n The suspension has also hit\u00a0Orsted\u2019s\u00a0Sunrise Wind\u00a0project, Equinor\u2019s\u00a0Empire Wind near New York and Dominion Energy\u2019s\u00a0Coastal Virginia Offshore Wind facility. Shares in Equinor were up 3% at 0925 GMT.<\/p>\n An Equinor spokesperson said the Norwegian company took note of the\u00a0Orsted\u00a0ruling and was awaiting the outcome of a court decision expected for Empire Wind later this week.<\/p>\n Equinor\u2019s 810 MW project was more than 60% complete when halted in late December, and the company has said that any delay beyond January 16 would likely result in the termination of the project and incur a financial loss of $5.3 billion.<\/p>\n The\u00a0Orsted\u00a0decision echoes a September\u00a0court victory\u00a0when a judge rejected the administration\u2019s first attempt to halt the project. Both suspensions cited national security concerns that judges found insufficient to justify the disruption.<\/p>\n The ruling sharply reduces the risk of Revolution Wind being canceled, which would have caused losses of about 20 billion Danish crowns ($3.12 billion), according to Sydbank analyst Jacob Pedersen.<\/p>\n Analysts said the decision raised hopes for a similar outcome on\u00a0Orsted\u2019s larger Sunrise Wind project, with JP Morgan noting investors were likely already pricing in a favorable ruling.<\/p>\n CREDIT RISKS AND POLITICAL HEADWINDS<\/p>\n Orsted, already contending with inflation, higher interest rates and supply chain delays, raised $9.4 billion in a\u00a0rights issue\u00a0last autumn to protect liquidity and try to avoid further credit rating downgrades. It has struggled to attract co-investors, particularly for Sunrise Wind, amid resistance from the Trump administration.<\/p>\n S&P Global downgraded the company to BBB, the lowest investment-grade rating, in August.<\/p>\n On Monday, Moody\u2019s cut its outlook on the company to negative from stable, citing heightened risk that political opposition in the U.S. could delay or derail offshore wind projects such as Sunrise Wind.<\/p>\n A further downgrade would push up borrowing costs and hit earnings, analysts warned.<\/p>\n ($1 = 6.4073 Danish crowns)<\/p>\n (Reporting by Stine Jacobsen. Editing by Louise Heavens and Mark Potter)<\/p>\n (c) Copyright Thomson Reuters 2026.<\/p>\n Editorial Standards<\/a> \u00b7 Corrections<\/a> \u00b7 About gCaptain<\/a><\/p>\n This article contains reporting from Reuters, published under license.<\/p>\n \t\t Sign up for gCaptain\u2019s newsletter and never miss an update<\/p>\n \u2014 trusted by our 107,264 members<\/p>\n","protected":false},"excerpt":{"rendered":"COPENHAGEN, Jan 13 (Reuters)\u00a0\u2013\u00a0Orsted\u00a0shares jumped 6% on Tuesday after a U.S. court\u00a0cleared\u00a0the Danish offshore wind developer to resume…\n","protected":false},"author":2,"featured_media":61743,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[285],"tags":[380,287,2963,3915],"class_list":["post-61742","post","type-post","status-publish","format-standard","has-post-thumbnail","category-orsted","tag-offshore-wind","tag-orsted","tag-president-trump","tag-us-offshore-wind"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@dk\/116410539475129740","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/61742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/comments?post=61742"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/61742\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media\/61743"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media?parent=61742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/categories?post=61742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/tags?post=61742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"logo\"\/](\"https:\/\/gcaptain.com\/wp-content\/themes\/gCaptain-Theme\/assets\/images\/gcaptain-new-gray-logo.svg\"){kind=logo}
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