‘I never understood wind’: midterms spark hope for renewables after Trump’s hostility

Democratic victories in the U. S. midterm elections, which took both the Senate and the House of Representatives from Republicans, have given the global renewable energy industry fresh hope after years of hostility from President Donald Trump. Markets reacted quickly. Ørsted, the largest offshore wind developer in the world, saw its value leap almost 10% within hours before ending nearly 5% higher. EDP Renewables and Engie gained more than 3%, and RWE about 1%. Ørsted has still lost over 70% of its value since Trump returned to office in 2025, and its Revolution Wind project has faced repeated White House stop-orders, according to The Guardian.

Analysts see less political risk ahead. Claudio Galimberti of Rystad Energy said a Democratic House could block further rollbacks of solar and wind tax credits, protect battery storage credits, and scrutinize roughly $4bn in offshore wind lease buybacks. Tancrede Fulop of Morningstar called it too early to declare a turning point for offshore wind, but said conditions for projects underway should steadier. Barclays analysts suggested lower investor anxiety could make financing cheaper.

Brenda Shaffer of the Atlantic Council said energy costs and datacenter demand helped sink Republicans.

Summarized by PolitiKool from The Guardian’s reporting. Read the full story at The Guardian →