Trump’s tariffs could raise onshore wind turbine costs by 7%, slow development: WoodMac

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Trump’s tariffs could raise onshore wind turbine costs by 7%, slow development: WoodMac

ESG news for industry leaders. Covering sustainability, regulation, governance, risk and compliance, finance, and more.

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Just after his arrival in the White House in January, the U.S. President signed decrees to freeze operating permits and federal loans for any offshore or land wind project in the country.

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The world’s largest wind turbine manufacturer has weathered the storm

Vestas wind turbines at the Norther Wind Farm, Belgium. Photo credit: Vestas. By Anders Lorenzen Unlike many of its competitors, Vestas, the Danish wind turbine manufacturer, has turned its fortunes around. After enduring some difficult years, in 2024, the world’s largest manufacturer of wind turbines recorded a profit of 3.27 billion Danish Kroner (dk) – a staggering 600% increase compared to 2023. Its turnover increased by 12% to 129 billion d…