Orsted's stock surged nearly 5% after a U.S. judge lifted a halt on its Revolution Wind project, a joint venture with Skyborn Renewables. The U.S. District Court for the District of Columbia's decision allows Orsted to restart construction, a move welcomed by the company. This ruling marks a legal victory against the Trump administration, which had suspended five offshore wind projects, including Revolution Wind, citing national security concerns raised by the Pentagon.

Orsted and Skyborn have already invested around $5 billion in the project. The court's decision reflects growing skepticism about the government's motives for halting offshore wind developments. In September, another judge rejected the administration's initial attempt to block the project, finding the national security rationale insufficient.

This latest ruling could embolden other offshore wind developers and states challenging the suspension of wind leases. The decision is a significant boost for Orsted, which has been navigating regulatory hurdles in the U.S. This development may encourage further investment in offshore wind projects, a rapidly growing sector in the renewable energy industry.