Newscasts - Orsted shares jump as US court lifts Trump block on wind project

Oersted A/S

13/01/2026 14:40

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_9vgrupbf&referenceId=tag:reuters.com,2026:newsml_RW637813012026RP1_930&pageId=Newscasts
Source: 'Reuters - Business videos'

Description: Orsted shares jumped 6% on Tuesday after a U.S. court cleared the Danish offshore wind developer to resume work on its nearly completed Revolution Wind project, easing fears of multibillion-dollar losses. Ciara Lee reports.

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Video Transcript:

Orsted shares jumped 6% on Tuesday. That was after a US court cleared the Danish offshore wind developer to resume work on its nearly completed Revolution Wind project and easing fears of multi-billion-dollar losses. The ruling comes after repeated disruptions to offshore wind projects under President Donald Trump. He's criticized wind turbines as ugly, costly, and inefficient. Orsted's lawsuit is among several filed by offshore wind companies and states. They want to overturn the Interior Department's suspension of five offshore wind leases over what it said were national security concerns. Revolution Wind, built with Siemens Gamesa turbines, is designed to deliver electricity to Rhode Island and Connecticut. The Orsted decision follows a September court victory when a judge rejected the Administration's first attempt to halt the project. One analyst said the ruling sharply lowers the risk of Revolution Wind being canceled, which would have caused losses of over $3 billion.