Equinor’s $5 Billion Wind Project in New York to Proceed Despite Uncertainties

By Nina Trentmann and Kari Lundgren (Bloomberg) — Equinor ASA is forging ahead with its $5 billion wind project off the coast of New York, despite facing hurdles from the Trump administration. The project, known as Empire Wind, was initially halted by Interior Secretary Doug Burgum in April, only to be unblocked a month later, allowing construction to resume.

Chief Financial Officer Torgrim Reitan expressed confidence in the project moving forward smoothly but voiced caution about future investments in US offshore wind. “Our appetite for further projects in offshore wind in the US is lower,” Reitan stated in an interview. The uncertainty surrounding the Empire Wind project has raised concerns about the investment environment under President Donald Trump.

The abrupt stop order by the government had Equinor on edge, with the company incurring significant costs while navigating discussions with White House officials. Reitan revealed that Equinor was on the brink of halting the project, emphasizing the financial implications of such a decision.

Following negotiations between the Trump administration and New York Governor Kathy Hochul, a breakthrough was achieved, allowing Empire Wind to progress while also paving the way for new gas pipelines in the state. The 810-megawatt wind project, set to power 500,000 homes with its 54 turbines, is scheduled to be operational by 2027.

Equinor will provide an update on the project’s status and any impact of the delay during its second-quarter results presentation on July 23.

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