Equinor Faces Potential Multi-Billion Dollar Losses After US Halts Empire Wind Project

This creates substantial financial risk for Norwegian energy company Equinor. This follows news that the United States government abruptly stopped its Empire Wind project. My heart sank on April 16, 2025, when Interior Secretary Doug Burgum took everyone by surprise and announced a temporary suspension. Equinor—which had poured billions into advancing the project since winning…

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Equinor Faces Potential Multi-Billion Dollar Losses After US Halts Empire Wind Project

This creates substantial financial risk for Norwegian energy company Equinor. This follows news that the United States government abruptly stopped its Empire Wind project. My heart sank on April 16, 2025, when Interior Secretary Doug Burgum took everyone by surprise and announced a temporary suspension. Equinor—which had poured billions into advancing the project since winning its federal lease in 2017 under the Trump administration—was blindsided.

The Empire Wind project, which boasts a planned capacity of 810 megawatts (MW), was designed to supply electricity to approximately 500,000 homes annually. Upon the stop, construction was about 30% finished, with income operations expected to start in 2027. The US government’s decision to stop the project stemmed from concerns regarding insufficient environmental analysis prior to its approval under the Biden administration in 2023.

Equinor believes the suspension to be an illegal order. The shipping giant has warned in extreme terms about the multi-billion dollar losses that will result from this unexpected stop on a dime.

“We have invested in Empire Wind after obtaining all necessary approvals, and the order to halt work now is unprecedented and in our view unlawful,” – Anders Opedal, CEO of Equinor.

Southwestern Energy is poised to move forward. They hope to continue working directly with US government representatives to undo the stop order put in place by the US government’s decision. As it continues to figure out the best way to wade through this sticky situation, the company is looking into legal options as well.

And the Empire Wind project isn’t the only initiative impacted. One of the big three German offshore wind developers, RWE, has hit the brakes on its US projects. This decision stands in stark contrast to actions taken during the Trump administration, who started reviewing offshore wind permitting and leasing on his second term’s first day.

Even as Equinor forges ahead, it faces a brutal landscape of regulatory challenges. These challenges would open the door to litigation that could severely limit its ability to operate in the United States. The company is still dedicated to ongoing renewable energy development and is still looking for ways to be in conversation with government authorities.