Massive US offshore windfarm on schedule, but suspension order increases costs

In a Q4 2025 earnings call on 23 February 2026, the company said first electricity from the 2.6-GW project is still due in Q1 2026, and the project is due to be completed in early 2027, but costs have risen by US$228M as a result of the Bureau of Ocean Energy Managements (BOEM) recent suspension order.

On 22 December 2025, the company received an order from the Acting Director of BOEM suspending all ongoing activities related to CVOW for 90 days ‘for reasons of national security.’ 

The company complied with the order, but challenged its legality in federal court and successfully sought injunctive relief from the order, enabling construction to resume.

The current capital budget for the project, US$11.5Bn, reflects the costs associated with the suspension and US$580M as a result of actual/estimated tariff costs imposed by the Trump administration. “Project cost increase was driven by construction delays related to the BOEM suspension order and incremental tariff recognition,” said the company, which, to-date, has invested around US$9.3Bn in CVOW.

Among the next steps on the project, the company’s contractors will complete installation of transition pieces, complete scour protection and inter-array cable installation, complete installation and commissioning of wind turbine generators and complete other transmission-related activity.