Orsted Rises amid Legal Challenge Against Wind Farm Suspension

18 days ago

Bloomberg reporter Kloe Mele

"Let's turn to Orstead next, filing a legal complaint against US President Donald Trump's wind farm suspension. >> Yeah, um there was uh it's up this morningstead on the back of that and perhaps indicating that investors are happy that is kind of pushing back of against the Trump administration. Um the company said that the decision to suspend the lease of a wind project that was very close to being completed uh violates applicable law. Um and so all is calling for the suspension to be lifted uh until there's a final verdict from the court. The project which is called revolution wind has been targeted a couple of times by the Trump administration recently. Over the summer we had a stop work order. And then a judge ruled that construction could actually resume. Now that there's this lease suspension, it's kind of another setback, but there are some gains today on the fact that it's pushing back against those decisions."

Orsted is facing regulatory and legal challenges after suspending a wind project lease amid actions by the Trump administration. The company's stance that the suspension violates applicable law appears to have reassured investors, as evidenced by a modest share gain this morning.