00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Trump administration on Monday suspended leases for five large offshore wind projects
00:07under construction off the U.S. East Coast, citing national security concerns raised by
00:12the Pentagon, according to Reuters. The Interior Department said turbine blades and reflective
00:16towers can interfere with radar and hinder threat detection. The pause affects projects
00:21led by Orsted, a van grid with Copenhagen Infrastructure Partners, Dominion Energy
00:26and Equinor. Shares of offshore wind companies fell, with Orsted down more than 12%.
00:31Dominion said the suspension threatens grid reliability for Virginia customers,
00:36including military bases and data centers supporting artificial intelligence and national defense.
00:41The U.S. Department of the Interior Secretary said the pause allows agencies time to assess
00:47mitigation options. For all things money, visit Benzinga.com.
Comments