Shell Plc has written off almost $1 billion and withdrawn from a US offshore wind farm due to President Donald Trump’s efforts to halt the industry through executive orders. The move is part of the industry’s reversal, which was championed by former President Joe Biden but has faced soaring costs in recent years.
The American offshore wind sector, once promoted by President Biden, now faces obstacles posed by President Trump’s executive actions. With these orders, developers face an added challenge to advancing the sector’s development.
Source: https://www.bloomberg.com/news/articles/2025-01-30/shell-takes-1-billion-hit-on-wind-farm-that-trump-wants-dead