From Golf Course Spat to Global Crisis: How Trump’s Wind Feud Hit Ørsted

A 14-year-old feud over a wind farm visible from Donald Trump’s Scottish golf course has escalated into a global crisis for the renewable energy industry, with Danish firm Ørsted at its epicenter. The company’s market value has plunged after it was forced to seek $9 billion in emergency funding, directly blaming the US President’s policies.
Ørsted’s financial model has been shattered. The company explained that it could not proceed with its plan to sell a stake in its new US east coast project because Trump’s anti-wind policies have crushed the project’s value. This financing method is the standard way Ørsted and others in the sector cover their massive upfront costs.
Trump’s long-held personal animosity has now become official policy, with his administration launching a review of all wind permits upon taking office. His recent, refuted claims that wind turbines “kill the birds” and are the “most expensive form of energy” have further poisoned the well for developers.
The crisis has prompted a massive, state-backed fundraising effort to ensure Ørsted’s “financial robustness.” Chief Executive Rasmus Errboe stated the company is facing an “extraordinary situation” as it tries to navigate the political storm and salvage its ambitious global and US-based projects.