Home / Orsted News: Revolution Wind Halted, Funding and More

Orsted News: Revolution Wind Halted, Funding and More

By: Jasmin Espinas

Updated: August 25, 2025

Published: July 11, 2025

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Orsted, a leading global player in offshore wind, is facing a sharp recalibration. Because of this, the company is now contending with rising costs, shifting regulatory conditions, and project setbacks.

In this update, Orsted shares shrink due to the U.S. government’s mandate to halt the company’s Rhode Island wind project.

At the same time, Orsted announced $3 billion in secured funding for its wind farms in Taiwan. The company also flagged an earnings hit as it officially withdrew from its Hornsea 3 project in the U.K., citing unfavorable economics.

Orsted Shares Hit Record Lows After U.S. Halts Rhode Island Wind Project

In line with President Donald Trump’s pushback on renewable energy investments, the U.S. halted Orsted’s Revolution Wind project on Rhode Island on Monday, August 25, 2025.

As a result, Orsted’s shares plunged to a record low of 17%.

A work-stop order was issued by the U.S. Bureau of Ocean Energy Management (BOEM) on Friday, August 22. The project was 80% complete as 45 out of 65 turbines have already been installed.

Starting in 2026, the wind farm is expeced to provide electricity to 350,000 homes in Connecticut and Rhode Island.

Despite this setback, Orsted reaffirmed its plans for a $9.4 billion emergency rights issue. reiterating its commitments to its U.S. projcts.

Therefore, analysts noted that the U.S. government can reverse the suspension by citing Equinor’s Empire Wind 1 project that resumed after Norway’s diplomatic efforts.

However, due to Trump’s statement abount wanting to take over Greenland, the strained relations with Demmark could complicate efforts.

Orsted Secures $3 Billion to Fund Taiwan Wind Farm

On July 10, 2025, Orsted confirmed it secured over $3 billion in financing for the Greater Changhua 2 offshore wind project in Taiwan.

.@Orsted has secured project financing for the 632 MW wind farm in Taiwan, Greater Changhua 2. 🇹🇼

The project finance package has raised approximately TWD 90 billion (around US$3 billion). 💰

Read more about the financing on our website 🔗👇https://t.co/0F7COVDuib

— Energy Global (@Energy_Global) July 11, 2025

This deal, worth around 90 billion New Taiwan dollars, is funded by 25 banks and five export credit agencies.

The 632-megawatt development also includes Greater Changhua 2a (already operational) and Greater Changhua 2b, which remains under construction.

Orsted expects 2b to be complete by the end of 2025. Once the project is operational, the company will divest equity.

Orsted Expects Earnings Hit After Canceling U.K. Wind Project

Orsted said on May 7 its Hornsea 4 project in the U.K. wouldn’t proceed because of rising costs and ongoing interest rate pressure.

This decision is expected to result in charges between 3.5 billion and 4.5 billion Danish kroner, reducing this year’s EBITDA by as much as 3.5 billion kroner.

Despite the cancellation, Orsted has maintained its full-year EBITDA forecast of 25 billion to 28 billion kroner.

The company also reported first-quarter net profit of 4.44 billion kroner, up from 2.39 billion kroner during the same period last year.

Conclusion

The mounting pressure after the U.S. halted its nearly complete Rhode Island Revolution Wind project underscores how political dynamics and strained U.S.–Denmark relations may complicate future offshore wind expansion.

These latest announcements also indicate that Orsted is resetting expectations in an effort to maintain earnings and investor confidence.

Furthermore, the offshore wind industry remains susceptible to inflation-linked cost increases, which means financing and executing future projects are increasingly subject to local policy changes and interest-rate movements.

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