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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