Details of a US bill are causing a red day for Vestas shares on Monday, with the stock market falling by almost eight percent at the close. The draft bill was read out in the Senate over the weekend, and if the bill becomes reality, it will have consequences for the wind industry in the US.
The US bill will mean that subsidies for the construction of wind farms in the US will expire in 2027. Vestas could therefore be hit by the US backlash. The same can be said for energy company Ørsted, which saw its shares fall by 3.7 percent on Monday.
Specifically, wind and solar projects in the US risk being subject to additional taxes from 2027. Shareholders have reacted to these factors during Monday's market.
The market reacted to the development in the US as early as the morning hours on Monday, when the Vestas share had fallen by six percent by noon.
Analyst: Close to worst-case scenario
According to Jacob Pedersen, head of equity research at Sydbank, the bill is close to the worst-case scenario for Vestas and the onshore wind industry in the US.
- There is no reason to say that investors are nervous. The bill could cause great damage to Vestas if it comes into force. Vestas has a fairly full order book, but they cannot be sure what will happen in three or four years. There is a fear of what will happen, says Jacob Pedersen.
The draft bill has been called "Big, Beautiful Bill" by US President Donald Trump. The bill was voted through in an initial vote in the US Senate on Saturday US time.
According to the AP, it happened with a narrow majority of 51 votes in favor and 49 votes against. This means that the bill will be debated in the Senate, after which a vote is expected to take place on Monday US time at the earliest.
If the bill ends up getting the final green light in the Senate, it will be sent to the House of Representatives. Here it will be voted on one last time before it can go to Trump in the White House for approval.
Each time the legislative package is considered in the Senate and the House of Representatives, respectively, the text may be changed. For example, the latest draft differs in several places from a draft that was voted through in the House of Representatives in May.
/ritzau/
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