Overview

• BOEM ordered Ørsted’s Revolution Wind to stop all offshore work to address unspecified national security concerns and possible interference with other ocean uses, with resumption contingent on a federal review.
• The 704 MW project is about 80% built, with all foundations and 45 of 65 turbines installed, and is contracted to deliver 400 MW to Rhode Island and 304 MW to Connecticut.
• ISO New England warned the delay will increase reliability risks after recent high demand periods, while the governors of Rhode Island and Connecticut and union leaders pressed for construction to resume.
• Ørsted said it is complying and assessing legal options; its shares fell to record lows as the company proceeds with a planned $9.4 billion rights issue.
• The halt comes as Interior moves to rescind approvals for Maryland’s MarWin project and follows an earlier stop on New York’s Empire Wind that was later lifted after state negotiations.