Trump Offshore Wind Lawsuits

Benzinga

Offshore wind developers including Equinor and Orsted sued the Trump administration after it froze leases for multiple East Coast projects over unspecified national security concerns, putting construction timelines and financing at risk, according to PBS News.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Offshore wind developers sued the Trump administration after it froze leases for

00:06five East Coast projects, citing national security concerns without providing details,

00:11according to PBS News. Equinor and Orsted filed civil suits late Tuesday,

00:16while Connecticut and Rhode Island sought a preliminary injunction for a third project.

00:21The administration announced on December 22nd that it suspended leases for five offshore wind

00:26projects for at least 90 days due to national security concerns without providing details.

00:31Empire Wind LLC told a U.S. District Court judge the project faces likely termination if construction

00:37cannot resume by January 16th, citing vessel availability, rising delay costs, and financing

00:43risks. Orsted asked a judge to vacate the order, saying it relied on valid federal permits and held

00:50regular meetings with the Coast Guard. Dominion Energy Virginia was the first developer to sue

00:55over the order. For all things money, visit Benzinga.com.

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