Ørsted Shares Tumble After U.S. Offshore Wind Farm Suspension
Ørsted shares have taken a sharp hit after the U.S. Bureau of Ocean Energy Management stopped the Revolution Wind Project as a result of issuing the stop-work order. The project, located off Rhode Island, was nearly complete with 45 of 65 turbines installed. Despite years of planning and full approval of construction, the suspension has cast doubt on the future of the project. The news sent Ørsted’s stock…