E.ON CEO says US renewables may stall under Trump

The head of Germany’s largest power utility believes investment in renewable energy in the US may be arrested by the Trump presidency.

Speaking to Handelsblatt, the German business daily, Johannes Teyssen said, "It is possible that future growth may slow and that the focus will shift again towards coal and oil. But we have seen these shifts in Europe, too. Just think about nuclear energy."
Johannes Teyssen
Teyssen said most jobs in the renewables industry were located in states dominated by the Republicans, adding any change in legislation would happen very slowly.

E.ON, which is Europe's largest electric power utility, has assets amounting to $4.25bn in the US, the world's second-biggest market for wind turbines after China, mostly in the form of onshore wind parks.

Global renewable stocks fell following Trump's election victory, fuelling concerns about the long-term prospects of the industry in the United States.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Selection, Use, Care and Maintenance of FR Clothing

For industries operating in an inherently dangerous environment, the importance of selecting the ...

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...

A Traders Guide to Analysis and Research

An e-book dedicated to helping you improve your analysis by looking at RBOB futures performance. ...