Wind power sector in the red on the stock market after Trump's announcements

The new president, barely inaugurated, signed an executive order blocking the development of new wind energy projects. He had promised during his campaign to block any new wind projects in the United States during his term, refusing to further subsidize the sector.

The biggest fall on the stock market was the Danish giant Ørsted, specialising in renewable energies, which collapsed by 10,7% in Copenhagen.

The group, the first to have invested massively in offshore wind power, also announced on Monday asset writedowns of 12,1 billion Danish crowns (1,6 billion euros).

Its compatriot Vestas lost 2,3%.

In Germany, RWE, the country's main electricity producer, fell 0,4% while wind turbine manufacturer Nordex fell 1,9% in Frankfurt.

In France, the cable maker Nexans, very active in connecting offshore wind farms to onshore networks, lost 0,3%, while the major French energy companies present in offshore wind in the United States, Engie (-0,7%) and TotalEnergies (-0,9%) were also in the red.

"Welcome to the world of Trump 2.0, where investors will be served a good dose of adrenaline, volatility and unpredictability," sums up Ipek Ozkardeskaya, analyst for Swissquote Bank.

In offshore wind, the impact on projects will vary depending on their stage of development, RystadEnergy estimates: the 2,4 GW under construction "are unlikely to be affected". On the other hand, 10,5 GW already licensed but not yet reaching the final investment decision will face "an unfavourable investment climate", while "the 25 GW at the very early stage of development are unlikely to see any progress under this presidency", estimates analyst Artem Abramov.

"There is such a need for electricity in the United States that the only projects that can go fast enough are renewable projects," says a European industrialist. Today, American players "need electrons and therefore take renewable electrons since they are the ones that are the quickest to get," he continues, recalling that they also have "commitments on decarbonization."

TotalEnergies declined to comment. Its CEO, Patrick Pouyanné, said in London at the end of November that he did not expect a major disruption in onshore renewable energy projects in the United States under Donald Trump's presidency.

Engie also did not comment. The French energy company has three offshore wind projects under development in the United States, representing an exposure of less than €400 million in total.

According to the U.S. Department of Energy, offshore and onshore wind will account for 2023% of U.S. electricity generation by 10.