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UBS has stated that concerns regarding the future of renewable energy companies following Donald Trump's election win are exaggerated. The investment bank highlighted that the increasing demand for power, particularly from data centers, positions various energy sources favorably, naming Iberdrola, Orsted, RWE, and NextEra as stocks to watch for positive performance.
14:52 25.11.2024
Shares in wind energy companies plummeted as Donald Trump appeared poised to win the US election, signaling a potential shift towards prioritizing fossil fuels over renewable energy. Danish firms Orsted A/S and Vestas Wind Systems A/S saw declines of 14% and 13%, respectively, while other companies like Germany’s RWE AG and Nordex SE also experienced losses.
Brookfield has acquired a £1.75 billion ($2.3 billion) stake in four offshore wind farms from Orsted A/S, marking a significant expansion into the UK offshore wind sector. This investment is one of the largest in the industry this year and is expected to support Britain's growth, providing a boost to Chancellor Rachel Reeves ahead of the upcoming budget announcement.
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