TotalEnergies SE has decided to halt the progress of its offshore wind farm project near New York due to the election of Donald Trump as President.

The company's CEO, Patrick Pouyanne, announced at an energy industry conference in London that the decision was influenced by Trump's opposition to the green energy initiatives promoted by the previous administration.

This development signifies a significant change in the renewable energy sector, as TotalEnergies had been actively pursuing offshore wind projects in the area. The pause reflects broader uncertainties in the energy industry as the new administration indicates potential policy changes that could impact future investments in green energy.