The Trump administration has suspended the leases for five large-scale offshore wind projects along the East Coast, citing national security risks. The Department of the Interior stated that recently completed classified reports from the Department of Defense indicated that the wind turbines could interfere with military radar systems.
The pause affects Dominion Energy's Coastal Virginia Offshore Wind project, Orsted's Revolution Wind and Sunrise Wind, Equinor's Empire Wind 1, and Avangrid's Vineyard Wind 1. Dominion reported the suspension is for 90 days. Following the announcement, shares of involved companies, including Dominion Energy and Danish energy firm Orsted, traded lower.