Renewable energy giants appear relatively sanguine about U.S. President Donald Trump's anti-wind policies. Trump temporarily suspended new or renewed leases for offshore and onshore wind projects and halted the leasing of wind power projects on the outer continental shelf.

European wind shares fell on Tuesday after U.S. President Donald Trump axed support for new offshore wind power on his first day in office, adding to pain in an industry that had turned to the United States to help revive its fortunes.

Orsted A/S shares slumped after it recorded a $1.7 billion hit on its earnings as the cost of building offshore wind farms in the US keeps rising, complicating the company’s efforts to expand the green technology from Europe.

President Trump signed an executive order that halted federal leases for offshore wind development on the outer continental shelf.

The suspension of offshore wind leasing by incoming US President Donald Trump has significantly impacted European wind power companies. On the first day of his second term in office, Trump halted new federal offshore wind leasing pending economic and environment review,