Shares in the wind energy giant Ørsted surged after a judge ruled that construction can continue on a huge, near-complete wind farm in the US.
President Donald Trump had attempted to block the project, off the coast of Rhode Island, part of a series of orders targeting renewables. He had halted leases and permits on the Ørsted project, but the stop-work order shocked investors: The multi-billion-dollar project was around 80% complete, with 45 out of 65 turbines already installed.
It’s rare good news for Ørsted, which has been hit hard by Trump’s anti-wind stance. Shares hit an all-time low after the block was imposed, but rebounded 12% on the news of its lifting.
