The current US administration has blocked further construction of Equinor’s—an offshore wind (OSW) developer—810 MW Empire Wind 1 offshore New York City due to “serious issues with respect to the project approvals”, according to a memorandum sent by the US Interior Secretary on April 16, 2025, to lead OSW regulator Bureau of Ocean Energy Management (BOEM). The move was a major win for sector opponents and drew criticism from clean energy groups.
Onshore work was already underway, including at the South Brooklyn Marine Terminal (SBMT), which is to serve as the flagship marshalling port for New York’s mandated 9 GW OSW development.
Equinor had announced in January 2025, that it had secured a $3 billion financing package for its Empire Wind 1 project, and reached financial close at the end of December 2024. The company expected capital investments in the project to total around $5 billion, including fees for the use of SBMT. Equinor had an agreement with the New York State Energy Research and Development Authority (NYSERDA) to sell power from Empire Wind 1 for 25 years at a $155 per MWh strike price. The company had also made plans to sell at least part of the wind farm to a new partner, as per an earlier press release in June 2024. The project was under construction to begin commercial operations in 2027, before this latest setback.