A major foreign offshore wind developer is pausing its operations in the U.S. amid the Trump administration’s assault against the industry, Reuters reported Friday.
RWE, a German multinational energy company with a large offshore wind presence in the U.S., is stopping its offshore wind activity in American waters for now, Reuters reported. The company is pausing its operations because of the Trump administration’s aggressive efforts to crack down on the industry, which benefited from large subsidies and favorable regulation under the Biden administration.
“In the U.S. … we have stopped our offshore activities for the time being,” RWE CEO Markus Krebber said in a speech released ahead of the company’s annual meeting reviewed by Reuters. “We remain cautious given the political developments.”