Equinor has halted construction on its 810MW Empire Wind 1 project off the coast of New York in compliance with a directive from the administration of President Donald Trump.
At the same time the company said it is “considering its legal remedies, including appealing the order”.
The company said in a statement: “Empire is complying with the order affecting project activities for Empire Wind.
“Upon receipt of the order, immediate steps were taken by Empire and its contractors to initiate suspension of relevant marine activities, ensuring the safety of workers and the environment.”
Equinor also said it has a gross book value of around $2.5bn in the project, including investments in the South Brooklyn Marine Terminal (pictured).
The project also has about $1.5bn drawn under a project finance term loan facility, and Equinor is “in the process of ascertaining the impact on the project and project financing”.
The move comes after the Trump administration moved to stop all work on the project.
Interior Secretary Doug Burgum said on Wednesday night that he was directing the Bureau of Ocean Energy Management (BOEM) to “immediately halt all construction activities on the Empire Wind Project until further review of information that suggests the Biden administration rushed through its approval without sufficient analysis”.