$50 M weekly loss as Trump blocks wind
Equinor may cancel its offshore Empire Wind project off Long Island within days, citing federal delays under the Trump administration and mounting weekly losses.
Image for illustrative purposes
USA, New York, Long Island: Norwegian energy company Equinor has warned it may cancel the Empire Wind project off Long Island within days, citing mounting losses of $50 M per week after the Trump administration paused construction. The offshore wind farm, intended to power 500,000 New York City homes, is over 30 % complete, with associated infrastructure at the South Brooklyn Marine Terminal more than halfway finished.
“We will have to terminate the program within days if we do not have a resolution with the federal government,” said Molly Morris, Equinor’s president of Renewables in America, calling the halt “unsustainable” and potentially unlawful.
The Department of the Interior, led by Secretary Doug Burgum, halted the project last month, citing concerns that it was “rushed through” by the previous administration. However, Equinor maintains that the project had received full approval after years of federal, state, and local review, beginning under Trump’s first term.
More than $2.5 B has already been invested. The project has created 1,500 jobs so far, with up to 4,000 more expected across several states.
New York officials, including Governor Kathy Hochul and Mayor Eric Adams, have voiced strong support. Adams even raised the issue with President Trump last week.
Despite federal resistance, Equinor is considering legal action, emphasising that 11 vessels remain idle and the project’s future hangs in the balance.
Source: New York Post
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