The current US administration’s aggression towards the offshore wind market could put at risk up to USD 75 billion in investment, according to an analysis by Houston-based IntelStor.
Based on the analysis, the application of tariffs as well as the recent moves to halt or cancel offshore wind projects in the US have jeopardised more than USD 75 billion in investments, much of which was foreign direct investment.
IntelStor says that this reduction spans project CapEx, port infrastructure improvements, factories, and other supply chain investments, including the jobs not created and tax revenue not recognised, as well as a loss of a significant amount of research and development investment.
In January 2025, US President Donald Trump issued an Executive Order , pausing offshore wind leasing on the US Outer Continental Shelf (OCS) and mandating a review of the federal government’s leasing and permitting practices for wind projects.
The Order also stops all relevant agencies from issuing approvals, either new or renewed, for both onshore and offshore wind projects until the review is completed.
At the beginning of April, the US Department of the Interior (DOI), through the Bureau of Ocean Energy Management (BOEM), paused all activities on the Empire Wind 1 offshore wind project.
Following the order, Equinor said the company was complying and took immediate steps to start suspending relevant marine activities on Empire Wind 1, the first offshore wind farm that will connect to New York City’s grid.
German renewable energy developer RWE also said that it will stop all its offshore wind activities in the US for the time being. This was revealed in a transcript of a speech planned to be delivered by Marcus Krebber, CEO of RWE, at the company’s annual general meeting on 30 April.
In the US, the company holds a 6 GW offshore wind seabed portfolio.
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