Trump Administration Pauses Offshore Wind Projects Citing National Security Concerns – Dominion Energy Stock Takes A Hit
Synopsis
The projects affected include the Coastal Virginia Offshore Wind, Vineyard Wind 1, Revolution Wind, Sunrise Wind, and Empire Wind 1.
Dominion Energy Inc. (D) shares fell nearly 5% in Monday morning’s trade after the Trump administration announced that it is pausing offshore wind leases.
The U.S. Department of the Interior announced that it is pausing the leases for all large-scale offshore wind projects under construction in the United States due to national security risks identified by the Department of War.
The projects affected include the Coastal Virginia Offshore Wind, Vineyard Wind 1, Revolution Wind, Sunrise Wind, and Empire Wind 1. Dominion is currently developing the Coastal Virginia Offshore Wind project.
Retail sentiment on Stocktwits around Dominion Energy trended in the ‘bullish’ territory at the time of writing.
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