Developers behind New York’s offshore wind projects are grappling with the prospect of billions of dollars in potentially lost value for renewable energy farms off the coast of Long Island. The downturn comes on the heels of a Monday executive order signed by President Donald Trump that suspends new federal offshore wind leasing and scrutinizes existing leases to possibly change or cancel those deals.

Donald Trump halted construction on what was set to be the largest wind farm in the U.S. on his first day in office. The president stopped building work on over 100,000 acres of clean energy infrastructure at the Lava Ridge Wind Project in Idaho via an executive order on Tuesday.

Biden threw an 11th-hour lifeline to two New England offshore wind projects. But is it enough to save them, given Trump's executive order?