Equinor reported a loss of $955 million in its U.S. offshore wind portfolio in the second quarter of 2025, amid regulatory challenges introduced by the Trump administration.

According to the company, it took a $763 million hit related to the 810 MW Empire Wind 1 project off the coast of New York and the associated South Brooklyn Marine Terminal, along with an additional $192 million charge tied to the lease area for Empire Wind 2.

Construction on Empire Wind 1 has resumed after a work stoppage order issued by the Trump administration earlier this year was lifted. Commercial operations are scheduled to begin in 2027.

The project’s economics were negatively impacted in Q2 2025 by reduced expected synergies from future offshore wind projects, driven by regulatory changes and increased exposure to tariffs.

Equinor reported a $1 billion operating loss in its renewables business for the second quarter, reflecting impairments on U.S. assets—up sharply from a $90 million loss in the same period last year.