Shares of Danish renewables giant Orsted jumped on Tuesday, after a U.S. judge ruled the embattled firm can resume construction of an offshore wind farm that was halted by the Trump administration.
The decision means Orsted can resume work on the nearly completed Revolution Wind project off the coast of Rhode Island and Connecticut.
Shares of the Copenhagen-listed company were among the top performers on the pan-European Stoxx 600 index during morning deals. The stock price, which notched a fresh record low last month, was last seen up around 6.6%.
The U.S. District Court for the District of Columbia on Monday granted a preliminary injunction sought by Orsted to overturn the Trump administration’s stop-work order, allowing construction on Revolution Wind to resume while the lawsuit progresses.
Orsted on Monday said it would start work on the project “as soon as possible.”
