“We are facing a change of mood,” Garrad said, calling the U.S. stance “symptomatic” of broader skepticism toward renewable technologies. Stiesdal, while declining to comment directly on Trump, noted what he sees as a “fundamental misunderstanding” among voters who benefit from low-cost green power yet support parties opposed to clean-energy expansion.
Economic fallout for developers
The administration’s actions have already rippled through corporate balance sheets. Danish utility Ørsted, the world’s largest offshore-wind developer, reported a net loss of 1.7 billion Danish kroner (US$261.8 million) for the July–September quarter, swinging from a 5.17 billion-krone profit a year earlier. Company shares, down more than 80 percent from a 2021 high, touched a new record low in August after Washington halted construction of a nearly completed U.S. project.
Turbine manufacturer Vestas is also navigating policy uncertainty. Chief Executive Henrik Andersen told CNBC on Nov. 5 that the firm maintains a “well-established” U.S. supply chain but acknowledged that “not everyone likes the nature of a wind turbine.” He added that energy prices ultimately drive investment decisions.
The financial strain illustrates how political signals can upend business models predicated on multi-decade cost-recovery timelines. Both Garrad and Stiesdal argued that uncertainty raises capital costs and slows deployment at a moment when many nations are racing to meet emissions-reduction targets outlined in the Intergovernmental Panel on Climate Change reports.
Technical legacy and policy risk
Stiesdal drafted key design principles for early turbines and oversaw the world’s first commercial offshore wind farm, installed off Denmark’s coast in 1991. Garrad pioneered computer models now widely used to certify turbine safety and optimize farm layouts. Their technical advances helped drive down offshore wind costs by roughly 60 percent over the past decade, according to industry data.
They now fear that political setbacks could erode those gains. “This isn’t just a wind-energy problem,” Garrad said. “To reverse course on a transition of this scale is dangerous because it shows how political decisions, rather than economics or engineering, can dominate.” Stiesdal highlighted energy security and local job creation as benefits that rarely feature in partisan debates yet resonate with communities hosting renewable projects.
Opposition remains concentrated in developed nations, the engineers said, while emerging economies continue to add wind and solar capacity to reduce reliance on imported fuels. Still, they urged policymakers in Europe and North America to provide stable frameworks that protect long-term investments.
As the two industry veterans accepted their engineering prize at St. James’s Palace, they emphasized that hard-won progress over four decades could be stalled if governments retreat from climate commitments. Whether Trump’s strategy gathers momentum elsewhere, or triggers a counter-mobilization in favor of renewables, may determine how quickly the world shifts toward low-carbon power in the critical years ahead.
Crédito da imagem: Brendan Smialowski / AFP | Bloomberg