Wedoany.com Report-Nov 18, Trump’s victory in the U.S. elections has shaken up the wind industry a bit.
On the one hand, the first reaction was that the stocks of Vestas, Nordex, and Ørsted plummeted upon hearing the news. This seems logical given that we are talking about a president who literally declared that wind turbines are “a pile of junk” and promised to halt offshore wind development on the first day of his mandate.
It seems reasonable to think that the next four years won’t be the golden age of wind in the United States, but there are reasons to believe we’re not heading into a scenario as catastrophic as many might think.
Not far off, a chart published in The Washington Post shows that 70% of investments in clean manufacturing (or factories related to the production of so-called clean technologies) from the IRA have gone to Republican districts. Additionally, considering Trump’s preference for protectionism and local manufacturing, it’ll not be easy for him to undermine his own base.
Moreover, reactions in the industry haven’t been especially alarming:
Nordex is maintaining its plans to reopen its factory in Iowa.
Vestas’ CEO bought 10,000 shares (almost €150,000) of the company after the drop following Trump’s victory.
Anyway, we’ll have to wait and see how it actually impacts.
