According to the head of equity research, the latest draft bill is a sharp derailment of support for onshore wind in the United States.
Vestas will be delisted from the stock exchange on Monday after details of the latest draft of a US bill were presented.
At 10.45, Vestas shares fall by around 5.4 percent.
The draft bill, which President Donald Trump has called the ‘Big, Beautiful Bill’, was read aloud in the US Senate on Saturday and Sunday US time.
According to Jacob Pedersen, head of equity research at Sydbank, the text is not far from the worst-case scenario for the onshore wind industry in the United States.
He writes in an analysis that the stock before Monday’s trading is at a price level that almost reflects that the company is not receiving any more orders in the United States.
“We don’t expect it to go that badly, but we are very surprised by the almost extreme political upheaval for the onshore wind industry, which the Trump administration is close to succeeding with,” writes Jacob Pedersen in the analysis.
“It is actually not far from the worst possible scenarios,” it continues.
According to the head of equity research, the bill includes a requirement that wind projects must be ‘placed in service’ by the end of 2027 at the latest in order to participate in the American PTC support scheme.
According to Jacob Pedersen, how ‘placed in service’ is interpreted will be crucial for the level of activity within onshore wind in 2027 and 2028.
Jacob Pedersen considers it to be expected that a large part of the projects that have not begun before the law is passed and cannot realistically be completed before 2027 will have to be shelved.
“In that sense, it is a very abrupt derailment of support for the onshore wind industry,” he writes.
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