The Vestas share closed at the top of the Danish C25 index on Wednesday with an increase of more than ten percent. This comes after a draft of a large American legislative package was voted through in the US Senate.
According to Jacob Pedersen, head of equity research at Sydbank, the bill has been changed at the last minute on points that are crucial for the wind industry compared to the previous draft. This therefore provides better conditions for Vestas.
The energy company Ørsted also has wind projects in the US and will therefore also be affected by the changes in the legislative package. Ørsted shares rose by almost two percent on Wednesday.
The bill, which was passed in the Senate on Tuesday, can ensure the possibility of a strong American market for onshore wind in the future, according to an analysis from Jacob Pedersen.
- In relation to the wind industry, there are significant improvements compared to the draft that was presented a few days ago. The adopted proposal does not derail the industry to the same extent as the previous text, but it still represents a deterioration from the current rules in the Inflation Reduction Act, he writes.
According to him, the most important change is that it is no longer a requirement in the bill that wind projects must be put into operation by the end of 2027 at the latest in order to participate in a US support scheme for renewable energy.
- This allows Vestas customers to start projects in the coming year, without being pressured by the time they must be completed by the end of 2027, says Jacob Pedersen.
US President Donald Trump himself calls the legislative package a "Big, Beautiful Bill". The legislative package - which is 940 pages long - still needs to be passed in the House of Representatives, as well as signed by Donald Trump.
The same legislative package was also the reason why Vestas shares fell by almost eight percent on Monday, after the draft was read out in the Senate over the weekend.
/ritzau/
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