Ørsted's offshore wind project Revolution Wind is at a crossroads. According to legal documents first reported by DR, a continued work stoppage after September 22 ordered by the Trump administration will trigger a cascade of delays that could massively increase the project's cost and, in the worst case, threaten its entire survival. Finans reports.
The project, which is 80 percent complete, is costing Ørsted up to DKK 100 million in lost revenue per week as long as construction is halted. In addition, there is the risk that highly specialized installation ships will move on to other tasks, which could make the work both more expensive and more difficult to complete. If the schedule slips, the agreements with the states of Rhode Island and Connecticut on the purchase of electricity could also expire without the possibility of extension. This could put the approximately DKK 20 billion that Ørsted has already invested at risk.
- If we get to the other side of the beginning of October, it will start to have some significant, additional consequences, Ørsted's CEO told EnergiWatch on Friday.
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