Trump and Europe’s wind energy – level 2
27-01-2025 07:00
Shares of European wind companies fell after President Trump stopped new US offshore wind leasing. He said that wind turbines are ugly, costly, and harmful to animals.
Wind power had problems with high costs and delays but got help from Biden’s green energy policies. Denmark’s Orsted got hit hardest, as its shares fell by 17%. The company took a 1.69 billion dollar loss on US projects, including Sunrise Wind, which was meant to be the largest US offshore wind farm.
Experts said that Trump’s decision made some of Orsted’s US land useless. Other wind companies, such as Portugal’s EDP Renovaveis, Germany’s RWE, and Norway’s Equinor, also lost, but not so much.
Difficult words: offshore (at sea), policy (ideas or an action plan), share (a part of a company which a person or another company can buy).
You can watch the original video in the Level 3 section.
What was the impact of President Trump's decision to stop new US offshore wind leasing on European wind companies such as Denmark's Orsted, Portugal's EDP Renovaveis, Germany's RWE, and Norway's Equinor?
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