Renewable energy giants ignore Trump's anti-wind policies

Renewable energy giants appear to be relatively optimistic about the US president Donald TrumpAnti-wind policies, describing the process of replacing fossil fuels with electric-powered products as “absolutely unstoppable.”

Trump who promised “new”The golden age“For America in his inauguration speech on Monday, he was quick to target it Low carbon energy initiatives.

In a Independent executive orderAs was widely expected, the President temporarily suspended new or renewable leases for offshore and onshore wind energy projects and halted leasing for wind energy projects on the outer continental shelf.

“We're not going to do anything about the wind. Big, ugly windmills, they're destroying your neighborhood,” Trump told supporters in Washington's Capital One District on Monday. He has previously described wind turbines as an economic and environmental “disaster.”

These measures formed part of a broader attack on energy aimed at “unleashing” Oil and gas production is already booming. This included declaring a national energy emergency, encouraging fossil fuel exploration in Alaska, and signing an executive order to withdraw the United States from the European Union. The historic Paris Agreement.

Joe Kaeser, Chairman of the Supervisory Board of Siemens EnergyAmazon, one of the world's largest renewable energy companies, seemed unfazed by Trump's sweeping energy agenda. In fact, Kaiser viewed these policies as a “minor addition” to the German energy technology portfolio.

Siemens Energy shares jumped more than 8% on Wednesday morning, hitting a new 52-week high.

“We need to figure out what's behind all the executive orders and policies. So far, I think there are several areas where Siemens Energy benefits greatly,” Kaeser told CNBC's Dan Murphy at the World Economic Forum's annual meeting in Davos. Switzerland on Tuesday.

Kaiser said there would be uncertainty for low-carbon energy sectors, such as onshore and offshore wind, before adding that Trump's actions were unlikely to directly impact Siemens Energy. This is partly because roughly 80% of the company's wind energy market is in Europe, Kaiser said.

“So, I think that doesn't move things around. I'm much more concerned about the European economies and how they deal with a very strong country, with a very strong concept. We may or may not like it, because it has some kind of nationalist stuff, but “If we look at it from the perspective of the American people, we better get something done.”

Beyond onshore and offshore wind, Kaiser said Siemens Energy was well placed to capitalize on the “booming” electricity market.

“Think about data centres, artificial intelligence, we have wait times now on big gas turbines,” Kaiser said. “In fact, customers are coming in and saying, ‘Can I make a reservation and I’ll pay you for the reservation?’ Just think about that. That hasn’t happened in a long time.” “.

“I think the era of electricity has just begun. Whether it's gas turbines, wind, solar or something else, we have it all, and it's the customers who ultimately decide. The one thing I think one should not underestimate is that The White House is adding, “I don't buy a lot (but) the customer does.”

Spanish renewable energy giant Iberdrola He was similarly optimistic about the path to full electrification, describing the transition away from fossil fuels as “absolutely unstoppable.”

“We see that we are probably at the best moment for electrification,” Iberdrola CEO Ignacio Galan told CNBC at the World Economic Forum on Tuesday.

Galland pointed to the growing global demand for electrically powered data centers, low-emission vehicles, as well as cooling and heating applications.

“All of these things require more electricity 24 hours a day. Most of our business in the United States is in this area, which is grids… and the regulation is based on state authority, so I think that has not been affected at all.” Galland said.

“Depending on the legislation, we will invest in one way or another in another part of our business,” he added, referring to Trump's energy policy.

“We are very optimistic about the United States and the future,” Galland said.

Danish Ørsted, which recently announced… About $1.7 billion Impairment charges on US projects fell 4.4% on Wednesday morning, extending the sharp losses incurred in the previous session.

The fast-growing offshore wind sector has endured a difficult period in recent years, hampered by rising costs, supply chain disruptions and rising interest rates.

Artem Abramov, head of new energies research at Rystad Energy, said Trump's energy agenda essentially means that the likelihood of any new offshore developments in the US has been reduced to zero – at least for now.

“The United States currently has approximately 2.4 GW of advanced offshore wind projects that have reached final investment decision and are under construction, and are unlikely to be affected by the order,” Abramoff said in a research note published Tuesday.

“There are moderate risks amid the unfavorable investment climate for projects with a capacity of 10.5 gigawatts that have received the necessary permits but have not reached investment decisions,” Abramov said.

“The remaining 25 GW projects in the early stage are unlikely to see any progress under the current administration,” he added.

— CNBC's Spencer Kimball contributed to this report.