The Trump administration suspended contracts for offshore wind projects, citing national security reasons. The measure affects large companies such as Ørsted and Dominion Energy.
Raluca Ioana Draghici
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The Trump administration has decided to suspend all concession contracts for major offshore wind projects, citing national security reasons. Secretary of the Interior, Doug Burgum, stated that President Donald Trump prioritizes security in energy policy. Shares of wind energy companies, such as Ørsted and Vestas, have significantly dropped following the announcement, and the Coastal Virginia Offshore Wind project, developed by Dominion Energy, has been included in this suspension. Dominion has warned that this measure could affect the reliability of the electric grid and jobs. Senate Democratic leader Chuck Schumer criticized the decision, calling it irrational and harmful to the energy economy. The Department of the Interior justified the suspension by the risks of interference with radar systems, identified by the Department of Defense.
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