Wind energy stocks fall due to Trump rhetoric.

Trump proposes to stop the construction of new wind farms

Shares of leading European wind energy companies fell after President Donald Trump stated he would ban the construction of new wind farms in the United States.

This is not the first negative comment by Trump regarding wind energy, as he previously opposed constructing wind installations near his golf course in Scotland and even claimed they cause cancer. This poses a certain threat to investors in this sector who hoped that under Trump's new administration, laws supporting industry development and inflation reduction would be upheld.

'We will try to pursue a policy where wind turbines won’t be built,' Trump said during a press conference.

As a result, shares of wind energy companies noticeably fell. For example, shares of Danish turbine manufacturer Vestas Wind Systems declined by 5.3%, while wind energy developer Orsted dropped by more than 5%. It is also noted that shares of companies producing clean energy sharply fell after Trump's election victory.

It is worth noting that while Trump opposed wind energy, the sector significantly expanded during his first presidential term due to federal incentives. However, in his comments, the newly elected president expressed his outrage over the 'massive subsidies' that this energy sector receives from the government.

Trump is expected to create significant hurdles for offshore wind farm developers who need federal government approval to begin construction. Already during his campaign, he promised to take executive actions immediately upon taking office to halt the construction of offshore wind energy projects.