Ørsted has chosen to sue the Trump administration after the company's American offshore wind projects Revolution Wind in Rhode Island and Sunrise Wind in New York have been put on hold, while Copenhagen Infrastructure Partners (CIP) is the only developer to have so far refrained from going to court, even though the company's Vineyard Wind project in Massachusetts has also been affected. According to the research house Aegir Insights, the reason for CIP's emergence is clear. This is reported in Finans.
- They are the only one of the five projects (which have been put on hold, ed.) that has had the rug pulled out from under them, that is in a position where they are making money. The others are not. They only have high costs from sitting and waiting. CIP can therefore better tolerate sitting and waiting for three months and seeing if something positive happens elsewhere that can help them, says Signe Sørensen.
Vineyard Wind is almost complete, and the majority of the turbines are already producing electricity and generating revenue. Ørsted, on the other hand, continues to have high costs on the projects that have not yet reached the revenue phase. Revolution Wind is 87 percent complete and was close to starting to deliver electricity when work was stopped again, while Sunrise Wind is 45 percent complete and is fully owned by Ørsted, which increases the financial risk for the company.
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