Orsted, Vestas and Equinor rise after US lifts block on Empire Wind Project
Shares in Norway's Equinor EQNR.OL and Danish wind turbine makers Vestas VWS.CO and Orsted ORSTED.CO rise after the U.S. lifted a stop-work order on Equinor's planned offshore wind project off the coast of New York
Equinor said in a statement that work can resume on Empire Wind, a $5 bln project set to power 500,000 New York homes
Shares of Vestas, which supplies turbines in the project led by Equinor, rise 3.8%; Equinor shares edge up 1.7%
Jefferies sees Empire Wind's restart as positive also for Orsted, as it eases market fears over permitting risks for its U.S. offshore projects
"With this newsflow, we expect a relief rally with (Orsted) valuation moving towards our Mid scenario," Jefferies says
Shares of Orsted, in which Equinor owns a 10% stake, jump 12.7% and are on track for their best day since February 2022
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