The shifting winds of the Trump-era energy transition were on full display this week as renewable energy developers reported quarterly earnings.
NextEra Energy used its earnings call to pitch solar and battery installations as a way to power new data centers. The Spanish power conglomerate Iberdrola argued rising U.S. electricity prices was an opportunity for its American renewables business. And Norwegian oil and gas giant Equinor said it will complete three offshore wind projects under construction — but is planning little additional investment in the sector.
The calls underscore the topsy-turvy nature of energy markets during the first nine months of President Donald Trump’s second tour in the White House. Renewables have been battered by the president’s decision to eliminate clean energy subsidies and yank permits for projects on federal lands. Yet for all the bruises, the industry continues to move forward.
Equinor executives said the company had completed installing 54 turbine foundations at Empire Wind, significant progress for a project Trump halted for a month during the spring.
