The chief executive of RWE, one of the largest developers of offshore wind in the world, has confirmed it has ceased developing offshore windfarms in the US
The company is continuing, cautiously, with other American renewable energy projects, but will not continue with offshore wind because of the Trump administration’s antipathy towards offshore wind energy.
In a speech released in advance of the company’s 30 April 2025 Annual General Meeting, chief executive Markus Krebber told shareholders that although the company’s American onshore wind, solar energy and battery storage projects have so far been developing “very dynamically,” the company has stopped offshore activities “for the time being.”
Dr Krebber said although the market environment is positive for RWE “because demand for electricity in the US is rising faster than almost anywhere else… we remain cautious given the political developments.”
Dr Krebber said, ”We have introduced higher requirements for future investments in the US. All necessary federal permits must be in place. Tax credits must be safe harboured and all relevant tariff risks mitigated.
“In addition, onshore wind and solar projects must have secured offtake at the time of the investment decision. Only if these conditions are met will further investments be possible, given the political environment.”
