Fillenews 11 January 2025 - by Haris Floudopoulos
Disruption and concern in the green energy market were created by the new statements of US President-elect Donald Trump on wind turbines. Two weeks before he officially took office, he said he would try to ensure no new turbines were installed during his term.
Trump has long criticized the use of wind as the main form of power generation, but his latest remarks raised concerns that the new administration could place significant restrictions on the installation of new wind projects.
''It is the most expensive energy there is, it is many times more expensive than clean natural gas, so we will try to adopt a policy based on which no new wind turbines will be installed'', the president-elect argued, confirming the intense concern caused in the green energy market by his election.
And while it looks like the next four years will be a lost four years for green energy in the US, there is concern that Trump's "anti-renewables" policy may find imitators and supporters both in Europe and at home.
It is noted that today the US federal government provides a range of ways to subsidize the development and operation of wind farms, which will be put under the microscope and reviewed.
It is worth mentioning that Trump had strongly criticized outgoing President Biden for implementing a policy of strengthening the green technology sector through the famous IRA (Inflation Reduction Act), creating significant prospects, especially in the photovoltaic, wind and hydrogen sectors.
But the uncertainty caused by Trump's election has led several companies to readjust, revise or even cancel development and investment plans, particularly in offshore wind farms, which have often been targeted by the president-elect.
Trump's remarks have resulted in a drop in share prices of major wind companies. Shares of companies such as Orsted, which operates offshore wind farms, Vestas, which is the largest producer of wind turbines, and Siemens Energy, which has the largest share of wind turbines for offshore wind farms, have turned negative in recent days.
Indicative of the concern is the fact that Siemens Energy has been forced to clarify that its U.S. business is only a fraction of its overall business and that the vast majority of its offshore projects are located in Europe, where there is greater market demand.
Players in the Greek green energy market, however, insist that developments may conditionally favour the European market, as a possible decline in demand in the US may lead to increased availability of investment funds, equipment and lower prices for projects to be developed in Europe.
On the contrary, of course, as shown by Trump's statements, the big beneficiary of his second term in the White House will be mining and fossil fuels, especially natural gas. Among other things, greater facilities for mining licensing, easier access to financing and the lifting of restrictions on new LNG export licenses by US companies are expected.
Capital.gr
