World’s Biggest Wind Turbine Maker Sinks After Trump Victory
The world’s biggest maker of wind turbines fell as much as 14 percent and traded 6.6 percent lower at 440.10 kroner as of 12:50 p.m. in Copenhagen. Stock of the Danish company already lost ground last week after U.S. polls tightened, bringing this year’s declines to about 10 percent.
“The U.S. is not the only market in the world, but it’s important for us,” said Chairman Bert Nordberg by phone. “It doesn’t have with us to do that the stock is jumping up and down -- we have reported growth and profit.”
Read more: Trump defeats Clinton in U.S. presidential election
Trump has been vocal about his climate skeptic views, tweeting that he believes that global warming is a hoax created by China. He also tried to get an offshore wind project canceled near a golf course he owns in Scotland, losing a two-year legal battle in July.
Nordberg expects the incentive for wind power known as the production tax credit, or PTC, to stay in place for the next five years. The renewable energy may also play into the politician’s protectionist agenda, as the electricity will be produced within the country’s borders, he said.
“I think Trump has a lot of other things to deal with right now rather than wind energy,” the chairman said. Analysts had already guided investors in Vestas to expect price shocks depending on the outcome of the Nov. 8 election. Bloomberg Intelligence estimates that about 41.3 percent of Vestas’s revenue last year came from the Americas.
“The Vestas share reaction is a result of concerns that Trump will focus more on fossil fuels,” Otto Friedrichsen, equity strategist at Formuepleje, said by phone after the result was clear. “Now there’s concern how Vestas will perform in the U.S. under a president who’ll be more interested in looking out for the country’s coal industry.”
According to an Ernst & Young LLP survey published last month, the U.S. stands to lose its position as the top-ranked renewable-energy market for investors under a Trump administration.
Trump has made clear “he hates wind turbines and will do what he can to fight them,” Jacob Pedersen, head of equity analysis at Sydbank, said earlier this month.
Read more: Vestas and its reliance on the U.S.
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Comment by Thinklike A. Mountain on November 10, 2016 at 11:10pm
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Trump wins U.S. Presidency! Climate Skeptics Rejoice! Set to dismantle & Defund UN/EPA climate agenda!
http://www.climatedepot.com/2016/11/09/trump-wins-u-s-presidency-cl...
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Comment by Eric A. Tuttle on November 10, 2016 at 11:10pm
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[Thoughts GOING Forward]
There is a way to construct pipelines that would satisfy those concerned with the damage associated with the hidden leaks, which is of My concern after seeing oil seep from below the ground into the Piscataquis river 17 years AFTER the flood of 1987 which hit our area and floated an oil tank from below the ground to spread its contents and smell to Bucksport.
However Industry would balk at its expense, though that would be much less than that of a future cleanup. If Coal and Oil make this comeback and are to Halt Wind and the massive new expansion of Solar a commitment toward investment in carbon capture should be made. Though there are other pollutants such as (1) high sulphur content that produces acid when left exposed to the atmosphere that also needs to be dealt with if Oil Sands (Tar Sands) are to become a part of the mix.
Looking at the dirty air of some of the cities of other nations, rich nations, and in order to avoid further promotion at a fast destructive pace of this current Green Technology, it would be in our own best interests to promote cleaner technologies for a dirty energy source. An energy source needed for the heavy lifting of industry, but not so much for our homes and smaller non manufacturing businesses.
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Comment by Eskutassis on November 10, 2016 at 8:41pm
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I'm thinking that the agenda Trump proposed on October 22nd at Gettysburg had within the top 10 things he was going to do was cancel the Paris agreement with the UN IPCC. This would be HUGE! as he would say. Real jobs are going to be available building pipelines and development of REAL energy sources will be explored. We should just get out of the UN and send them packing for Scandinavia anyway. They have not been our friends since the 60's. The real estate in NY is far too valuable to have them there anyway.
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I may have been, in a past lifetime @Paula........... it may explain why my head is crowded with thoughts even at my late age.
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Comment by Paula D Kelso on November 10, 2016 at 11:20am
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Eric, were you there to see that evolution of the wheel? Tee Hee Hee. Needing a laugh today.
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As with any investment, the seller is always looking to make a profit from some unsuspecting Patsy and they will be sold for more, unless like Sun Edison who was greedy to become the #1 in Green Energy while knowing little about Wind and sold for pennies on the dollar after taking their investors (wall street types) to the cleaners, differently but much in the same way, like ENRON. WIND is not an EARNED place in the energy sector nor is SOLAR. They are currently GIFTED by forcing a payment from Taxpayers and Ratepayers and some foolish investors that took the risk and were robbed in the case of SunEdison, soon to be realized by others. Quality is built over time with successes and failures and only endure on success. The Wheel failed as a Triangle, a Square, a Pentagon, a Hexagon and so on until such time it became sufficiently rounded.
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Unfortunately five Vestas' just came to a hill near me.
Maybe Pisgah paid too much for them, maybe now Vestas will have a fire sale of their inventory.
Maine as Third World Country:
CMP Transmission Rate Skyrockets 19.6% Due to Wind Power
Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.
Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT
******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********
(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/
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Hannah Pingree on the Maine expedited wind law
Hannah Pingree - Director of Maine's Office of Innovation and the Future
"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."
https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/
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