Trump Administration Suspends Nearly Finished Offshore Wind Project in Rhode Island, Causing Stock to Plummet

Written by Emily J. Thompson, Senior Investment Analyst

Source: NASDAQ.COM

Updated: Aug 25 2025

0mins

Source: NASDAQ.COM

Construction Halted: The Trump administration has ordered a stop to construction on the Revolution Wind offshore wind farm in Rhode Island due to national security concerns, affecting a nearly completed project.
Impact on Renewable Energy: This decision is part of a broader trend against renewable energy development, following a moratorium on new offshore projects and stricter IRS tax guidance for developers.
Consequences for Industry: Industry groups warn that the pause could negatively impact jobs, supply chains, and investor confidence, as the U.S. currently has only one operational offshore wind project.
Investor Reaction: Ørsted's shares fell nearly 17% following the announcement, with analysts expressing concerns that repeated disruptions could make the U.S. an unreliable market for renewable investments.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.