Renewable Energy Giants Remain Sanguine About Trump’s Anti-Wind Policies
U.S. President Donald Trump’s anti-wind policies have been met with a mixed reaction from the renewable energy sector. While some have expressed concerns about the impact of Trump’s policies on the wind power industry, others remain relatively sanguine about the situation.
Joe Kaeser, chairman of the supervisory board of Siemens Energy, one of the world’s biggest renewables players, described the policies as a “slight plus” for the company. Shares of Siemens Energy jumped over 8% on Wednesday morning, hitting a new 52-week high. Kaeser believes that the company is well-positioned to benefit from a “booming” electrification market, which he says is driven by increasing demand for data centers, artificial intelligence, and other technologies.
Ignacio Galán, executive chairman of Spanish renewable energy giant Iberdrola, also expressed optimism about the road to full electrification. He cited soaring global demand for electrically powered data centers, low-emission vehicles, and cooling and heating applications, and stated that the company is “very, very optimistic” about the United States and its future.
However, not all renewable energy companies share Kaeser’s outlook. Shares of some European wind power giants, such as Denmark’s Orsted, fell sharply on Wednesday morning, extending steep losses from the previous session. The offshore wind sector has faced a number of challenges in recent years, including rising costs, supply chain disruption, and higher interest rates.
Artem Abramov, head of new energies research at Rystad Energy, believes that Trump’s energy agenda essentially means that the likelihood of any new offshore developments in the U.S. has fallen to zero, at least for now. He estimates that the U.S. currently has around 2.4 gigawatts of advanced-stage offshore wind developments that have reached final investment decision and are under construction, and that moderate risk is present for 10.5 gigawatts of projects that have secured necessary permits but have not yet reached investment decisions.
