Orsted, Vestas and Equinor rise after US lifts block on Empire Wind Project

Vestas Wind Systems A/S

20/05/2025 08:34

** Shares in Norway's Equinor EQNR.OL and Danish wind turbine makers Vestas VWS.CO and Orsted ORSTED.CO rise after the U.S. lifted a stop-work order on Equinor's planned offshore wind project off the coast of New York

** Equinor said in a statement that work can resume on Empire Wind, a $5 bln project set to power 500,000 New York homes

** Shares of Vestas, which supplies turbines in the project led by Equinor, rise 3.8%; Equinor shares edge up 1.7%

** Jefferies sees Empire Wind's restart as positive also for Orsted, as it eases market fears over permitting risks for its U.S. offshore projects

** "With this newsflow, we expect a relief rally with (Orsted) valuation moving towards our Mid scenario," Jefferies says

** Shares of Orsted, in which Equinor owns a 10% stake, jump 12.7% and are on track for their best day since February 2022

 (Reporting by Jesus Calero)

 ((Jesus.calero@thomsonreuters.com))