Trump’s War on Wind Turbines Derails Europe’s Biggest Clean Energy Firm

Donald Trump’s long-standing war on wind turbines has claimed its biggest corporate casualty yet, after Europe’s largest clean energy firm, Ørsted, announced its business model had been derailed. The Danish company is now seeking $9 billion in an emergency fundraising effort after its stock crashed to an all-time low.
The company directly attributes its crisis to the Trump administration’s policies. A review of offshore wind permitting, ordered on Trump’s first day back in office, has slashed the value of Ørsted’s US projects. This has blocked the company’s primary method of financing, which involves selling a stake in each wind farm as it’s being built.
Trump’s animosity towards wind power is well-documented, dating back 14 years to a dispute over turbines visible from his Scottish golf course. He has recently repeated refuted claims that wind is the “most expensive form of energy” and that it “kills the birds,” creating a hostile political environment for the entire industry.
With the backing of the Danish state, its majority owner, Ørsted is pushing forward with the capital raise to ensure its “financial robustness.” CEO Rasmus Errboe acknowledged the “extraordinary situation” created by the US market developments on top of macroeconomic challenges, as the company aims to complete major projects in New York and Rhode Island.