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UBS: Orsted Lawsuit Signals Wind Talks With Trump Admin "Not Going Well"
Revolution Wind LLC, co-owned by Orsted and Global Infrastructure Partners, has sued the Trump administration over a halt to its 80%-complete offshore wind project. The Interior Department's Bureau of Ocean Energy Management (BOEM) suspended construction citing unspecified national security concerns. This lawsuit followed a Presidential Memorandum ordering a broad review of renewable projects on the Outer Continental Shelf. Attorneys general from Connecticut and Rhode Island have also filed lawsuits to overturn the stop-work order. Revolution Wind argues the order is invalid, was issued without authority, and will cause devastating financial harm. They have already invested approximately $5 billion and face over $1 billion in breakaway costs if the project is cancelled. Connecticut's Attorney General called the stop order an "all-out war" on wind power and "utterly unlawful and baseless." A White House spokeswoman stated the order reflects a review of wind project practices considering reliable energy demands and other impacts. UBS analyst Dominic Ellis views the lawsuit as a sign that behind-the-scenes negotiations are not going well. The resolution of Orsted's issues in the U.S. appears unlikely in the immediate future. The Trump administration favors reliable fossil fuel power and nuclear energy over what it deems fragile green energy sources.