Vestas dips as German chancellor hints at possible slowdown in green energy

Vestas took a blow in Thursday’s trading after German Chancellor Friedrich Merz suggested, according to industry media Recharge News, that Germany would likely slow down the expansion of wind and solar energy.

The decline accelerated in late trading, and by the close of trading, the share price had fallen 5.4% to DKK 117.60.

A report on Germany’s energy transition is to be analyzed by the Ministry of Energy next week, according to reports, and this could lead to a change of course for the expansion of green energy.

The report will determine actual future electricity demand and identify opportunities for cost reductions.

According to Recharge, skeptics expect the government to use it as a tool to reshape the energy transition in a way that favors new fossil fuel production capacity instead of accelerated expansion of wind and solar energy.

Friedrich Merz told german business newspaper Handelsblatt on Wednesday, that the report will be evaluated next week and may lead to changes, reports Recharge.

“My guess is that we can do a little less in terms of expansion,” Merz said, adding that this could significantly change the cost of the energy transition.

English edit by Katrine Gøthler