Overview

• BOEM Director Matthew Giacona directed an immediate stop to all on-site activity at Revolution Wind to allow a national-security review.
• The project is about 80% built with 45 of 65 turbines installed and was intended to supply power to more than 350,000 Rhode Island homes, according to Ørsted.
• Ørsted said it is evaluating all options, including possible legal action, and separately announced plans to raise 60 billion Danish kroner to address U.S. project disruptions.
• The Commerce Department opened an Article 232 investigation on August 13 into wind-turbine components, a process that can last up to 270 days and could lead to tariffs or quotas.
• Analysts warn potential import measures would raise costs for offshore wind reliant on foreign components, with Equinor’s Empire Wind having already experienced a prior pause.