German energy company RWE has suspended its offshore wind development activities in the United States, citing regulatory uncertainty linked to the current political climate.
RWE Chief Executive Marcus Krebber said in prepared remarks for the company’s Annual General Meeting on April 30 that the company would halt offshore wind efforts in the U.S. “for the time being.”
“We remain cautious given the political developments,” Krebber said in the transcript.
The company has also tightened its criteria for future investments in the U.S. renewable sector, where it continues to operate onshore wind, solar, and battery storage projects. According to Krebber, new U.S. investments must now meet stricter conditions to proceed.
“All necessary federal permits must be in place. Tax credits must be safe harboured and all relevant tariff risks mitigated,” he said. “In addition, onshore wind and solar projects must have secured offtake at the time of the investment decision.”
RWE, through its joint venture Community Offshore Wind with National Grid, had submitted a proposal to the New York State Energy Research and Development Authority’s (NYSERDA) fifth offshore wind solicitation. The project was expected to reach a capacity of up to 3 gigawatts.
The decision comes as companies across the renewable energy sector reassess U.S. strategies amid shifting federal policies and market conditions.
