Overview

• Revolution Wind LLC, the Ørsted–Skyborn joint venture, filed suit in D.C. federal court to vacate BOEM’s stop‑work order and is seeking a preliminary injunction to restart offshore construction.
• Connecticut and Rhode Island filed a separate case in Rhode Island federal court arguing BOEM exceeded its authority under OCSLA and violated the Administrative Procedure Act.
• The project has all foundations installed and 45 of 65 turbines in place, with 20‑year PPAs for 400 MW to Rhode Island and 304 MW to Connecticut after more than $5 billion was spent or committed.
• Ørsted won shareholder approval for a $9.4 billion rights issue, with roughly two‑thirds earmarked for Sunrise Wind, as S&P kept the company at BBB‑ and Fitch flagged a negative outlook.
• Court filings and company statements cite potential cancellation liabilities above $1 billion, carrying costs near 100 million DKK per week for Revolution Wind plus 60–70 million DKK for Sunrise, and schedule risks if specialized vessels slip past their current windows.