Renewable giants shrug off trump’s anti-wind policies: ‘Electrification is Absolutely unstoppable’

Renewable energy giants appear relatively sanguine about us president Donald Trump‘S Anti-Wind Policies, Describing the process of replacing fossil fuels with electrically povered products as “Absolutely unstoppable.”

Trump, who promised a new “Golden age“For america in his inaugural address on Monday, Swiftly Took AIM at low-carbon energy initiatives,

In a Standalone Executive OrderWhich has been widely expected, the President Temporarily Suspended New or Renewed Leases for offshore and Onshore Wind Projects and Halted the Leasing of Wind power projects on the Outer Continental Selfare.

“We are not going to do the wind thing. Big ugly windmills, they ruin your neighborhood,” Trump Told His Supporters at the Capital One Area In Washington on Monday. He previously described wind turbines as an economy and environmental “disaster.”

The measures formed part of a much broader energy offensive designed to “Unleash” Alredy Booming Oil and Gas ProductionThis inclined declaring a national energy emergency, promoting fossil fuel drilling in alaska and signing an executive order to withdraw the US from the Landmark Paris Agreement,

Joe Kaeser, Chairman of the Supervisory Board of Siemens energyOne of the world’s biggest renewables players, see unfazed by Trump’s Sweeping Energy Agenda. In Fact, Kaeser Considered The Policies A “Slight Plus” for the German Energy Technology Group.

Shares of Siemens Energy Jumped more than 8% on Wednsday Morning, Hitting a New 52-Veeek High.

“We need to see what’s behind all the executive Orders and the Policies. So far, I belly there are many areas where areemens energy benefits a lot,” Kaeser TOLD CNBC ‘ OMIC Forum’s (Wef) Annual Meeting in Davos , Switzerland on Tuesday.

There will be uncertanty for low-carbon energy sector, such as onshore and offshore wind, kaeser said, before adding that trump’s measures was unlikely to directly to see That’s partly trust roughly 80% of the firm’s wind market is in europe, kaeser said.

“So, I believe that doesn Bollywood more worked about the European Economies and how they deal with a very powerful nation, with a very powerful concept. ot Some nationalistic type of things, but if we look at it from the View of the American People, We Better Get Something Going, “Kaeser Said.

Beyond Onshore and Offshore wind, kaeser said siemens energy was well positioned to capitalize from a “Booming” Electrification Market.

“Think about the data centers, Artificial Intelligence, We have Waiting Times Now on Large Gas Turbines. Actually, Customers are coming and saying, hey can I make a reservation and I’ll Payy You FORVATION Out that. Hasn’st Happened for a long time, “Kaeser said.

“I believe the electrification age just begun. Wheethr that’s gas turbines or wind or solar or something else, we’ve go everything, and the customers decide in the end. Imate, The White House is Not Buying Much (but) the customer does, “He added.

Spanish renewable energy giant Iberdrola was similarly bully the road to full electrification, describing the transition away from fossil fuels as “Absolutely unstoppable.”

“We are seeing that probally we are in the best moment for electrification,” Ignacio galán, Executive Chairman of Iberdrola, Told CNBC at Wef on Tuesday.

Galán cited Soaring Global Demand for Electrically Powered Data Centers, Low-Election Vehicles as Well as Cooling and Heating Applications.

“All of Things Require More Electricity 24 hours a day. L, ” Galán said.

“Depending on the legislation, we will make more or less investment in another part of our business,” He added, referring to trump’s energy policy.

“We are very, very optimistic about the united states and the future,” Galán said.

Shares of some european wind power giants fell shortly after trump took aim at wind power plans.

Denmark’s orsted, which recently announs a roughly $ 1.7 billion Impairment charge on us projects, dipped 4.4% on wedding morning, extending steep losses from the previous session.

The Rapidly Growing offshore wind sector has endured a torrid time in recent years, Hampered by rising costs, Supply Chain Disruption and Higher Interest Rates.

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

“The US Currently Has Around 2.4 Gigawats (GW) of Advanced-STAGE Offshore wind developments Bramov said in a research note published.

“Moderate Risk Amid the Unfavorable Investment Climate is present for 10.5 gw of projects which secure permits

“The Remining 25 GW of Early-STAGE Projects are unlikely to

– CNBC’s Spencer Kimball Contributed to this report.