In a significant shift, U.S. President Donald Trump has suspended new federal offshore wind leasing, pending an environmental and economic review. This move puts a pause on the expansion of the offshore wind industry, which had been rapidly growing under the Biden administration’s 30 GW by 2030 target.
Key Takeaways:
✅ The suspension affects new federal leases, but existing U.S. offshore wind projects remain unaffected.
✅ European energy giants including BP, Equinor, Ørsted, RWE, Iberdrola, and TotalEnergies have significant investments in U.S. offshore wind projects.
✅ Delays and cost increases were already impacting developers—Ørsted announced a $1.68 billion impairment due to rising costs.