April 28, 2025 — German renewable energy giant RWE is set to announce that it has stopped its offshore activities in the United States and setting higher requirements for future investments because of the “political developments.” The company follows TotalEnergies, Shell, and BP which previously announced they were backing away from projects in the U.S., and Equinor which last week said it is considering “legal remedies” after Trump’s Department of Energy suspending offshore work on a full-permitted wind farm off New York.
RWE released a manuscript of the speech Dr. Markus Krebber, CEO of RWE, will deliver next week, April 30, during the company’s annual meeting. In the speech, he will highlight the company’s many successes in 2024 and the progress being made on the Sofia wind farm for the UK and with the Danish wind farm Thor. He notes RWE has a combined offshore wind farm capacity currently of 3.3 GW and a further four projects with a capacity of 4.4 GW under construction.
Turning to the U.S. market environment, Krebber will tell shareholders, “We have stopped our offshore activities for the time being,” while the company has also introduced “higher requirements for future investments in the U.S.” He says despite the company’s success with onshore wind, solar energy, and battery storage, “Nevertheless, we remain cautious given the political developments.”