European firms exposed as Trump targets US offshore wind

U.S. President Donald Trump in his first day of office on Monday suspended new federal offshore wind leasing pending an environmental and economic review, saying wind mills are ugly, expensive and harm wildlife.

Former President Joe Biden supported the offshore wind industry, setting a target for 30 gigawatts (GW) of projects by 2030, up from 42 megawatts at the end of 2023, prompting many European project developers to acquire leases and plan wind farms in the United States.

Trump's executive order is not expected to stop existing U.S. offshore wind projects from being advanced.

Below are some of the European companies involved in the U.S. offshore wind sector:

BP - The British oil major has a lease off the coast of Massachusetts to build the Beacon Wind project that would become part of its newly announced offshore wind JV with Japan's Jera.

EDF - Through subsidiaries France’s state-owned EDF and oil major Shell, it has a 50-50 joint venture, Atlantic Shores, which has approval to build two projects off the coast of New Jersey.

EDPR EDPR.LS - Portugal’s EDPR has a 50-50 offshore wind JV with Engie called Ocean Winds, which is developing the Southcoast Wind project off the coast of