Utility Dive•10 days ago
Ørsted, Equinor challenge Trump administration stop work order
Key Takeaway
Regulatory and political risks can impose severe financial burdens and delays on large-scale renewable energy projects, impacting developers and future clean energy supply.
AI Summary
- •The 700-MW Revolution Wind offshore project, developed by Ørsted and Equinor, is currently under a Trump administration stop work order issued in December.
- •Project attorneys allege the stop work order is costing the development at least $1.44 million per day, highlighting significant financial risk.
- •This regulatory intervention underscores the substantial political and permitting risks associated with large-scale renewable energy projects.
- •The daily financial burden could severely impact project economics, PPA pricing, and the overall viability of future offshore wind developments for both developers and large power consumers.
Topics
capacity-marketfinancingpolicyppawind