The hard-pressed Ørsted share has been given a boost after a US judge on Monday evening Danish time lifted the construction halt that has delayed the construction of the offshore wind farm Revolution Wind off the US east coast.
Ørsted rises nine percent at the stock exchange opening on the news from the US.
Ørsted and its partner Skyborn Renewables were told in August to stop the construction of Revolution Wind, which at the time was about 80 percent complete.
The reason was allegedly that the US Department of the Interior wanted to investigate whether the offshore wind farm could be a threat to national security.
Ørsted and Skyborn Renewables have filed a lawsuit against the US government to clarify whether the construction halt is legal.
But at the same time they asked for the construction halt to be lifted while the case is ongoing.
That was the question that was decided on Monday in favor of the owners of Revolution Wind.
Ørsted has previously estimated that every day that construction has been at a standstill has cost millions.
And according to head of equity research Jacob Pedersen from Sydbank, it would have cost 10 billion kroner if the project had to be abandoned altogether.
Now, however, there are brighter prospects in terms of completing the offshore wind farm and putting it into operation.
- It may well be that the ball has not rolled down the right side for Ørsted yet, but there is a probability that it will, says Jacob Pedersen.
/ritzau/
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