Offshore construction work for the Empire Wind 1 offshore wind farm has been suspended following a directive from the United States Bureau of Ocean Energy Management (BOEM). The decision affects all construction activity on the outer continental shelf related to the project. On 17 April 2025, Empire Offshore Wind notified foundation manufacturer Sif and the broader market of the halt, which stems from a BOEM order issued a day earlier. The order requires all offshore construction to be paused while BOEM completes its review of the project.
Despite the suspension of offshore activity, Sif will continue producing the remaining monopiles and transition pieces as contracted. To date, six of the planned 54 foundations have been shipped from Rotterdam to New York. The first monopile was completed in November 2024. Sif confirmed it will maintain a cooperative dialogue with the project team and continue manufacturing in line with the contract.
Empire Offshore Wind, a joint venture owned by Equinor through Equinor Wind US, is engaging with authorities to clarify the scope and implications of the BOEM order. The company is also exploring legal remedies, including the possibility of appealing the directive.
The project, under contract with the New York State Energy Research and Development Authority (NYSERDA), is one of the key offshore wind initiatives for the region. With a projected capacity to power 500,000 New York homes, Empire Wind 1 has already secured all required federal and state permits. Construction work has supported more than 1,500 jobs in the United States.
Financially, the project’s gross book value as of 31 March 2025 stands at around USD 2.5 billion, which includes infrastructure at the South Brooklyn Marine Terminal. Approximately USD 1.5 billion has been drawn from the project finance term loan facility. Equinor US Holdings has provided guarantees for the equity commitments under the project financing arrangement.
If the suspension leads to a full stop, project finance lenders are expected to be repaid from the equity commitment, and Empire Offshore Wind could become liable for termination fees to suppliers. The financial implications of the halt will be disclosed as a subsequent event in Equinor’s Q1 2025 report.
