Equinor’s New York Offshore Wind Project Paused As Trump Administration Orders Further Review

Construction at the massive offshore project, located 15 to 30 miles south of Long Island, began last year.

U.S. Interior Secretary Doug Burgum on Wednesday ordered a stop to all construction activities on Equinor’s (EQNR) Empire Wind Project on the coast of New York after suggesting that Joe Biden’s administration had rushed through the approval process of the wind farm.

Burgum said in a post on X that he made the decision after consulting Commerce Secretary Howard Lutnick, and construction will be on hold until further review.

Trump had been vocal against offshore wind projects, citing their environmental impact. In January, he signed an order directing a review of all the offshore wind projects and halted leasing of federal land for such projects.

His predecessor, Biden, had singled out wind energy as one of the key tentpoles of the country’s drive toward net-zero. Yet the industry has suffered several setbacks due to supply chain problems and equipment failures.

An Equinor spokesperson told Reuters that the Norwegian firm had received the stop-work order from the U.S. Bureau of Ocean Energy Management (BOEM), the Interior arm involved in the approval process of offshore energy projects.

Equinor reportedly said, "We will engage directly with BOEM and the Department of Interior to understand the questions raised about the permits we have received from authorities."

Construction at the giant offshore project, located 15 to 30 miles south of Long Island, began last year.

It was scheduled to begin operations in 2027. Once it reached its full capacity, it was expected to power about 1 million homes in New York.

Equinor’s U.S. shares have fallen 2.3% year-to-date (YTD).

For updates and corrections, email newsroom[at]stocktwits[dot]com.<