"But it was almost completed": Trump got rid of the global giant of wind energy

The largest European operator of offshore wind farms was looking for 9 billion euros to fix its shaky financial situation, and the White House hit the company from another side: it stopped a major project in the United States. Orsted immediately fell in price by another 19%.

"The United States is stopping work on an almost completed wind farm off the coast of Rhode Island. This leads to the collapse of Orsted shares and pulls the shares of competitors with it," Handelsblatt writes.

The publication notes that the White House stopped the multibillion-dollar project when the last turbines were to be installed.

"The radical course of US President Donald Trump against new offshore wind farms has brought down the prices of all wind power. The shares of turbine manufacturers Nordex and Siemens fell by one and a half percent, Vestas — by as much as four percent," the German edition continues.

According to him, Denmark owns 50.1% of Orsted shares.

"Orsted is currently assessing the potential financial implications, taking into account a number of scenarios, including lawsuits," the Danish company said.

"This news was a big shock and, given the advanced stage of the project, is tantamount to a political hostage—taking by the US government," said analyst Pierre-Alexandre Ramondenc of Alpha Value.

Handelsblatt noted that the Rhode Island wind farm had all the necessary permits and was at the completion stage: 45 of the 65 turbines had already been installed, all the foundations had been laid, and the project was to be launched next year.

"Electricity has also already been sold for the next 20 years. Now the company has no income prospects to recoup 1.5 billion euros of investments," Handelsblatt writes.

The US government justified the freezing of construction with "concerns about national security."