Locator: 48520WIND.
This is for the archives. Everyone of my readers has seen this story. If not, they're not paying attention. LOL.
Lede:
Germany's RWE just pulled the plug on its U.S. offshore wind business.
Quietly. No fireworks, no headlines about thousands of turbines scrapped—just a dry admission that it's "halting activities" in American waters.
For one of Europe’s biggest green energy giants to walk away from a market as large as the U.S., in the middle of an energy transition no less, is not just a business decision.
It’s a red flag.
The exit—confirmed by a speech manuscript published ahead of a yet-to-be-delivered speech by the company’s CEO—comes as RWE rethinks where and how it deploys capital. In March, the company slashed $11 billion off its low-carbon investment plan, citing rising costs, hostile regulatory environments, and a spike in its required return on investment from 8% to 8.5%. In other words: too risky, too expensive, too slow. [Sounds like the US oil sector, under Biden, Kerry, Pocahontas, and many others.]
RWE's CEO, Markus Krebber, had already warned last fall that Trump’s return to power could delay or derail projects on the U.S. East Coast. Now, the company is making that pivot official. All U.S. offshore wind operations are paused—indefinitely—and RWE will instead chase safer, more lucrative projects in places like Germany, where it just broke ground on a new 22.8-MW onshore wind farm.
Blaming the failure of an inefficient business plan on Trump. So, what else is new?
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Meanwhile
Again, for the archives, my readers have already seen this story.
