Revolution Wind operator's stock recovers after judge says work can continue

By Steve Goldstein

Orsted said it will continue work on Revolution Wind after winning a court injunction.

Shares of Orsted rallied on Tuesday, to levels where it stood before the Trump administration halted an 80% completed project, after a federal judge gave it an injunction allowing work on the Revolution Wind project to continue.

Orsted shares (DK:ORSTED) climbed 6%, to 117.60 kroner a share - nearly at the 119 kroner level it stood before the U.S. Bureau of Ocean Energy Management ordered a halt to all activities on the Revolution Wind Project offshore of Rhode Island.

Orsted, which jointly owns the project with BlackRock's (BLK) Global Infrastructure Partners, said it will resume construction work as soon as possible.

The U.S. government has 60 days to appeal the ruling. Rhode Island Gov. Dan McKee and Connecticut Gov. Ned Lamont each hailed the victory for the project.

Analysts at Citi say Orsted still faces risks from the ongoing case against it, as well further actions from the U.S. government. Interior Secretary Doug Burgum, they noted, said there is not a future for wind projects.

Even with the gains, the stock is still down 35% this year.

-Steve Goldstein

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09-23-25 0440ET