Empire Offshore Wind LLC (Empire) has temporarily suspended offshore construction activities for the Empire Wind project, in compliance with a work stoppage order issued by the U.S. Bureau of Ocean Energy Management (BOEM).
The order, dated 16 April, directs Empire to cease all activities on the U.S. outer continental shelf until BOEM concludes its review. In response, Empire has paused all relevant marine operations, prioritizing the safety of personnel and environmental protection.
Empire is currently engaging with federal authorities to seek clarity regarding the decision and is evaluating possible legal responses, including the option to appeal.
The Empire Wind project, first awarded a federal lease in 2017, is under development through a contract with the New York State Energy Research and Development Authority (NYSERDA). Empire Wind 1, which has received the necessary federal and state permits, is currently under construction and is designed to provide power for approximately 500,000 homes in New York State. The construction phase has supported employment for over 1,500 individuals in the U.S.
As of 31 March 2025, the Empire Wind project holds a gross book value of approximately USD 2.5 billion, including investments related to the South Brooklyn Marine Terminal. The project’s financing includes around USD 1.5 billion drawn from a term loan facility. Equinor US Holdings Inc., through Equinor Wind US LLC, holds ownership in the project and has provided guarantees for equity commitments related to the financing.
Empire is currently assessing the implications of the halt work order on project timelines and financing arrangements. In the event of a full project stoppage, the financing arrangement requires repayment from equity contributions, and the project entity may be subject to termination fees under supplier contracts.
Details related to the halt work order will be disclosed as a subsequent event in Equinor’s first quarter 2025 financial report.
