Trump Stops Wind Projects, Dominion Shares Fall 4%

The Trump administration has stopped work on several major offshore wind projects along the U.S. East Coast, including Coastal Virginia Offshore Wind (CVOW), the largest wind project in the country. This decision has dealt a big blow to the U.S. wind energy industry.

After the news, Dominion Energy’s shares fell nearly 4%. Dominion is developing the Virginia wind project. Shares of Denmark-based Orsted dropped 11%, while Norway’s Equinor saw its stock fall by about 1%.

In total, five offshore wind projects have been paused:

• Coastal Virginia Offshore Wind

• Vineyard Wind 1 (Massachusetts)

• Revolution Wind (Rhode Island)

• Sunrise Wind (near Long Island)

• Empire Wind 1 (south of Long Island)

Together, these projects could supply electricity to more than 2 million homes.

The U.S. Interior Department said the projects were paused due to national security concerns raised by the Pentagon. Officials claim that wind turbines could interfere with military radar systems because of their large blades and reflective towers.

The Virginia project alone includes 176 turbines and was expected to power over 600,000 homes by next year. Dominion Energy said stopping the project could hurt grid reliability, increase energy prices, and put thousands of jobs at risk. The company also said the project is important for meeting rising power demand, especially from data centers and artificial intelligence operations in Northern Virginia.

Virginia’s current governor, Glenn Youngkin, supports the project. Incoming governor Abigail Spanberger has also backed renewable energy to help control rising electricity bills.

The Interior Department said the pause will allow the government to work with states and companies to see if security risks can be reduced.

President Donald Trump has long opposed wind energy. On his first day back in office, he ordered a stop to all new wind leases and permits while a federal review is carried out.

Democratic Senator Chuck Schumer criticized the move, calling it unreasonable and warning that it could lead to higher electricity bills for Americans.

Trump’s actions against wind energy have also faced legal challenges. Earlier this month, a U.S. federal judge ruled that one of his previous orders blocking wind projects was unlawful.