European Renewables Jump on New York Offshore Project Resumption -- Market Talk

Dow Jones

05/20

0752 GMT - Shares of European renewable energy companies jump at the market open after the resumption of the Empire Wind project alleviates uncertainties about the continuation of the massive project. Following a month-long halt imposed by the Trump administration, the Empire Wind project off New York's coast is now back on. The project, which is being developed by Norwegian energy group Equinor, is about 30% complete with an investment of $2.5 billion. The news sent the shares of renewable energy companies higher, with Danish wind energy player Orsted up 12.3%, Vestas up almost 4% and Portugal's EDP Renovaveis and Spain's Acciona Energia more than 3.2% higher. Denmark's Equinor rises 1.83% and Germany's RWE jumps 2.1% while Nordex and Siemens Energy trade 1.7% and 1.6% higher, respectively. (maitane.sardon@wsj.com)

(END) Dow Jones Newswires

May 20, 2025 03:52 ET (07:52 GMT)

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