The administration’s order that stopped work on the New York project served as a warning for the entire offshore wind industry in the U.S.

Shares of offshore wind developer Orsted rose 15% on Tuesday after the U.S. administration revoked an order to halt work on a project by peer Equinor, easing concerns over the Danish company's U.S. projects under development.

Shares of European wind companies rose on Tuesday after the Trump administration’s reversal of an order to halt a $5 billion wind energy project off the coast of New York offered some respite to an ailing industry.