Ørsted stocks have been low after Trump stopped working at Windfarm in the United States | Energy Industry

Ørsted’s stock follows Monday’s all-time low Trump administration Order Europe’s largest wind energy company to stop working on nearly complete wind farms.

ØRSTED shares fell as much as 18% as it was forced to stop its $1.5 billion (£741 million) revolutionary project construction near the coast of Rhode Island.

Although the project is 80% completed, 45 of 65 wind turbines were installed, but the tool orders were lowered.

this The U.S. government issues a stop order Later on Friday, it was said that “issues related to national security interests need to be addressed”, although it did not provide any other details.

ØRSTED is owned by Denmark’s 50.1% of people and Donald Trump’s tough stance on the offshore wind project has been hit hard.

The company is some of the world’s largest offshore wind companies and can usually pay for its costs by selling shares in each project once work is underway. But the president’s cynicism hurts the value of American projects.

The stopping work orders at a critical moment in the Danish business as it attempts to raise funds for its new projects. Earlier this month, it said it would seek to support its finances by selling new shares worth 60 billion Danish Krona (£7 billion) to existing investors.

Ørsted shares have fallen more than 30% so far before Monday fall.

Pierre-Alexandre Ramondenc, an analyst at research firm Alphavalue, said U.S. government intervention could endanger the success of Ørsted’s fundraising program.

“Given the high-level stage of the project, the news caused a serious shock, and the political hostages in the U.S. government are nothing more than political hostages,” he said.

Trump has one Don’t like it for a long time The history of offshore wind energy dates back at least 14 years, a dispute over the North Sea wind turbines he saw on a golf course in Scotland.

He claimed that wind should not be allowed because they produce “the worst form of energy, the most expensive form of energy” and can also “kill birds.” These claims Has been refuted By experts.

Trump stopped new offshore wind rentals on his first day in January. He recently called wind and solar a “scam of the century!” In social media posts, he vowed not to approve wind or “farmers destroy solar” projects.

Revolutionary wind energy, which is expected to operate in full next year, is expected to power more than 350,000 households.

In April, the U.S. government Stop construction of another wind project led by Norwegian snacksalthough it canceled the stop order on the $5 billion wind power next month.

Ørsted in response to the stop order, it is “evaluating all options that can resolve the matter quickly”, including through potential legal proceedings.