After Orsted (DNNGY) announced Friday that its subsidiary Revolution Wind, a 50/50 joint venture with Global Infrastructure Partner’s Skyborn Renewables, received an order instructing the project to stop activities on the outer continental shelf related to the wind project from the U.S. Department of the Interior’s Bureau of Ocean Energy Management, Bloomberg’s Ari Natter reports that the Trump administration is working to halt development of an offshore wind project planned near Maryland. US Wind, which is owned by funds managed by Apollo Global Management (APO) and a subsidiary of Toto Holding SpA, told Bloomberg in a statement: “We remain confident that the federal permits we secured after a multi-year and rigorous public review process are legally sound.” Companies with exposure to wind energy include Eversource (ES), NextEra Energy (NEE), GE Vernova (GEV) and Brookfield Renewable Partners (BEP).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APO:
- Sam Altman Warns AI Stocks May Be in a Dot-Com Style Bubble
- Apollo’s insurer blames rivals for potential ‘related party’ conflicts, FT says
- M&A News: Soho House Agrees to $9 Per Share Deal for Going Private
- Soho House near deal to go private for $9 per share, WSJ says
- Apollo Global Management Clarifies 8-K Filing Status