Commodities / NEWS UPDATE
Trump Targets $6.2 Billion Offshore Wind Project Nearing Completion
Published · 1 min read
United States President Donald Trump has filed a motion to rescind approval for Connecticut's Revolution Wind, an almost 95% complete $6.2 billion offshore wind project.
The U.S. Department of the Interior aims to reevaluate the project's compliance with the Outer Continental Shelf Lands Act. The project, developed by Denmark's Ørsted, is expected to supply electricity to around 350,000 homes and businesses by the end of the year. Critics argue that this move injects uncertainty into the renewable energy sector and could deter future investments.