Investing.com -- Oersted AS (CSE:ORSTED) shares fell to a nine-month low on Wednesday after the Trump administration renewed efforts to challenge a key permit for the Danish offshore wind developer's Revolution Wind project off Rhode Island, reviving uncertainty over its U.S. operations.
Shares dropped 2.85% to 127.65 Danish kroner, their lowest level since January 21, while the pan-European STOXX 600 rose 0.3% in early trading.
The U.S. Justice Department has asked a federal court to send the Interior Department's approval of the project's construction and operations plan back for reconsideration.
Not finding the right stocks? Our AI's list of investor-grade stock picks for October just dropped »
The department wants the permit reviewed for compliance with federal law governing offshore energy development, according to a court filing reported by Bloomberg.
The move raises fresh uncertainty for Revolution Wind, a 704-megawatt offshore wind farm developed by Orsted and Skyborn Renewables off the coast of Rhode Island. The project began producing power in March and is expected to reach full commercial operation later this year.
The latest legal challenge revives a dispute between Orsted and the Trump administration over U.S. offshore wind development. The administration previously sought to halt work on Revolution Wind, citing national security concerns, but a federal judge allowed construction to resume in January after the company challenged the stop-work order.
The administration's renewed push also comes against a backdrop of wider uncertainty for offshore wind developers in the United States, where permitting and regulatory challenges have threatened project timelines and raised concerns about costs.
Investors will be watching whether the court allows the permit to be reconsidered and whether the process could affect Revolution Wind's remaining development and commissioning work.
Original Article
Oersted shares hit 9-month low as U.S. moves to revisit Rhode Island wind permit
ASML shares climb on raised 2026 outlook, capacity expansion plans
Rober Walters reports a return to fee growth after 3 years, shares rally
