The Trump administration has abruptly halted construction on the nearly finished Revolution Wind project off the coast of Rhode Island, citing vague national security concerns.
This $1.5 billion offshore wind farm, developed by Danish company Ørsted, was 80% complete and seen as a cornerstone for local job creation and energy reliability.
The decision raises alarms not only for the future of thousands of jobs but also for the stability of New England's power grid, which was counting on this renewable energy source.
Ørsted's stock plummeted as a result of the halt, suffering a dramatic decline of up to 19%, raising red flags about the company's financial viability and capital-raising plans.
In the political arena, Democrats are pressing for the resumption of work on the project, emphasizing its importance to workforce development and environmental initiatives.
This cancellation reflects a broader conflict between renewable energy goals and the Trump administration's policies, signaling potential challenges ahead for similar projects in the future.
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