Donald Trump’s decision to suspend Ørsted’s two largest offshore wind projects in the United States may trigger massive financial losses for both the company and Danish taxpayers.
Trump Halts Danish Offshore Wind Projects
Only months after a major state-backed rescue package, Denmark’s renewable energy giant Ørsted faces yet another crisis. U.S. President Donald Trump has ordered the suspension of the company’s two largest American offshore wind projects off the East Coast, citing national security concerns.
The announcement effectively pauses construction on five major offshore wind farms, including those led by Ørsted. According to a statement from Interior Secretary Doug Burgum, the halt will remain until further review.
Trump’s decision immediately sent ripples through Ørsted’s headquarters in Fredericia and the Danish financial markets.
Massive Projects Put on Hold
The two projects in question are valued at roughly 20 billion Danish kroner. Each delay adds enormous costs to Ørsted’s already strained budget. Analysts estimate the company could lose around two billion kroner every month while construction is suspended. The projects were expected to provide power and stable revenue for decades.
The Danish state owns 50.1 percent of Ørsted, meaning Danish taxpayers have a direct financial stake in its success or failure. After last summer’s 60 billion kroner recapitalization, the government reinforced its investment to stabilize the company. This new pause throws that effort into serious doubt.
Ørsted’s Rocky U.S. Experience
Ørsted’s troubles in North America are not new. In 2023 the company scrapped its Ocean Wind project in New Jersey, posting a massive 30 billion kroner loss. That failure triggered layoffs and cuts to U.S. investments. Early in 2025 the company booked another 12 billion kroner in write-downs due to interest rate hikes and delays on other U.S. ventures.
These repeated setbacks have turned its American portfolio into what one analyst described as “a long saga of frustration.”
Billions at Risk for Danish Taxpayers
As of December 2025, Ørsted’s share price has fallen more than 67 percent, equating to over 21 billion kroner in lost public value. The government also agreed to inject an additional 30 billion to maintain its ownership share during a new stock issue.
Together, the figure represents nearly 51 billion kroner, or about 8,000 kroner per Danish citizen. That compares roughly to Denmark’s entire annual public-school budget. Because Ørsted remains majority state-owned, Danish taxpayers are effectively underwriting the potential losses from these halted U.S. projects.
Broader Impact Across the Wind Industry
The suspension affects more than Ørsted. Other developers, including Danish Copenhagen Infrastructure Partners, Spanish Iberdrola, Norwegian Equinor, and U.S. utility Dominion Energy, have all been ordered to stop work. Industry observers warn the decision could harm the global offshore wind build-out if the U.S. chooses to withdraw support from large-scale projects.
Next Steps and Possible Legal Action
Ørsted has confirmed that it will comply with the U.S. Interior Department’s directive and suspend all site activity immediately. However, the company and its partners are reportedly evaluating potential legal responses.
While some analysts remain confident Ørsted can survive, the timing could hardly be worse. The firm had just begun to regain momentum after years of turbulence. Now another U.S. policy shift threatens to derail progress once again.
Because Trump has long been vocal in his opposition to wind energy, calling turbines “ugly” and harmful to wildlife, his new stance was not entirely unexpected. Yet the scale of the suspension shows how political uncertainty—even in a growing green sector—can upend billions in investment overnight.
Outlook for Denmark’s Green Transition
Despite the setback, Denmark continues to rely on Ørsted as a cornerstone of its transition to renewable energy. The company remains one of the world’s largest offshore wind developers, with projects in Europe and Asia showing more stability.
Nevertheless, this latest blow underscores how dependent even strong climate strategies can be on political goodwill abroad. For decades, Denmark has used companies like Ørsted to project green leadership internationally. Whether that reputation can withstand a sustained U.S. blockade remains an open question.
Sources and References
The Danish Dream: Trump blocks Danish wind project off U.S. coast
The Danish Dream: Banking in Denmark for foreigners (Updated 2025)
TV2: Trumps beslutning kan blive katastrofal for Ørsted
