Renewable Energy Giants Convinced

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Renewable energy giants

CNBC

•

Technology

Renewable giants shrug off Trump's anti-wind policies: 'Electrification is absolutely unstoppable'

Summary

Nutrition label

80% Informative

Renewable energy giants appear relatively sanguine about U.S. President Donald Trump 's anti-wind policies.

Trump temporarily suspended new or renewed leases for offshore and onshore wind projects and halted the leasing of wind power projects on the outer continental shelf.

Shares of Siemens Energy jumped more than 8% on Wednesday morning, hitting a new 52-week high.

Iberdrola was similarly bullish about the road to full electrification as "absolutely unstoppable".

Trump 's energy agenda essentially means the likelihood of any new offshore developments in the U.S. has fallen to zero .

The remaining 25 GW of early-stage offshore wind projects are unlikely to see any progress under the current administration, Rystad Energy analyst says.

"Moderate risk amid the unfavorable investment climate is present for 10.5 GW of projects which secured necessary permits but have not reached investment decisions," he said.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

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Offensive language

not offensive

Hate speech

not hateful