Renewable energy companies, including Germany’s RWE and Siemens Energy, have expressed concerns about the future of the U.S. offshore wind sector under a Donald Trump presidency. Both companies anticipate potential delays and regulatory challenges, Reuters news report said.
RWE’s finance chief, Michael Mueller, and Siemens Energy CEO, Christian Bruch, warned of increased risks to project timelines, particularly for U.S. offshore wind projects planned through the late 2020s and early 2030s.
Siemens Energy, which has plans to supply 4.2 gigawatts (GW) of offshore wind power to the U.S., and RWE, partnering in a 3 GW joint venture, highlighted potential delays in permit approvals.
Michael Mueller specifically noted concerns over the 2026 approval timeline, which may be disrupted due to Trump’s potential policy changes.
Investors are wary of regulatory reversals, fearing Trump’s policies might weaken support for clean energy, especially offshore wind and hydrogen. AXA Investment Managers’ Gilles Guibout mentioned that U.S. offshore wind’s growth potential could diminish under Trump.
Trump’s earlier comments criticizing offshore wind have impacted market confidence, with shares in companies like Orsted, the largest offshore wind developer, dropping significantly.