Trump Administration Cuts Offshore Wind Funding Amidst Industry Concerns
TL;DR Summary
Orsted, a Danish offshore wind company, faces significant setbacks in the US market due to political and economic challenges, including a $9.4 billion capital raise and project halts ordered by the Trump administration, leading to a sharp decline in its stock value and raising questions about its future US operations and strategic direction.
- Orsted’s American Dream Becomes a Multi Billion-Dollar Nightmare Bloomberg.com
- Transportation Dept. Cancels $679 Million for Offshore Wind Projects The New York Times
- Trump administration cancels $679 million for offshore wind projects, including $34 million for Salem project The Boston Globe
- Why did Trump halt their project? Union wind workers want answers USA Today
- Trump kills port funding in Rhode Island and Massachusetts NBC Boston
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