FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: EDP Parks US Wind Investments Despite Rising Power Demand, CEO Says

-- EDP has halted three US wind projects worth billions, citing policy risks, while still targeting up to $5.2 billion Ebitda by 2028, Bloomberg reported Thursday, citing EDP's CEO.

Chief Executive Officer Miguel Stilwell d'Andrade said EDP has scaled back activity on three wind projects across Massachusetts, New York, and California, reducing staffing and delaying spending due to unclear US policy direction.

Stilwell d'Andrade shared in an interview at the company's headquarters that the projects are effectively paused, noting they are in "hibernation mode" as the company avoids committing capital until conditions improve, the report said.

Stilwell d'Andrade said the firm was fortunate not to have begun construction, unlike peers, allowing it to sidestep potential financial exposure.

The projects are managed through Ocean Winds, a joint venture with Engie, and the CEO dismissed speculation about exiting the partnership, the report added.

Policy changes under US President Donald Trump have stalled renewable energy momentum, including halting approvals for windmills and tightening financing conditions tied to new legislation, the report said.

The administration has also hinted at revisiting prior approvals, while recent moves allowed firms like TotalEnergies to exit offshore leases, redirecting roughly $1 billion toward fossil fuel investments, the report added.

Despite setbacks, EDP continues engaging with US authorities and maintains a strong footprint, with about $17 billion invested and more than 12 gigawatts of installed renewable capacity nationwide, the report said.

The company sees robust electricity demand driven by data centers in both the US and Portugal, while reaffirming financial goals supported by $12 billion in planned investments through 2026, the report added.

has reached out to EDP for any comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Asia

Adisyn Secures Rights to Commercialize Graphene-Based Stealth Technology

Adisyn (ASX:AI1) said 2D Generation's subsidiary, 2D Radar Absorbers, signed a license and research agreement with Ramot, the technology transfer company of Israel's Tel Aviv University, for the exclusive rights to commercialize graphene-based radar signature reduction or stealth technology, according to a Wednesday filing with the Australian bourse.The technology combines graphene and other 2D materials in composite materials to minimize radar detectability by absorbing and dissipating electromagnetic signals, the filing said.The deal includes a 12-month company-funded research program with Tel Aviv University, expected to cost less than AU$100,000, per the filing.

$ASX:AI1
International

Japan's Trade Surplus Expands in March as Exports to China, US Jump

Japan's trade surplus expanded to nearly 667 billion yen in March from 529.8 billion yen a year earlier as exports outpaced imports, data from the Ministry of Finance on Wednesday showed.Exports during the month climbed 11.7% to 11.003 trillion yen from 9.852 trillion yen, after shipments to its two largest trading partners, China and the US, rose 17.7% and 3.4%, respectively.This March export reading is triple that of the export growth of 4% the month prior.Exports to the Middle East plunged 45.9% while imports fell 10.7%, as the Iran war effectively shut the Strait of Hormuz, a vital waterway for Japan's oil imports from the region.Overall imports, meanwhile, grew 10.9% on year to 10.336 trillion yen from 9.322 trillion yen, boosted mostly by imports from Asian nations.

$^N225
Asia

Meteoric Resources to Raise AU$40 Million via Share Placement; Shares Up 15%

Meteoric Resources (ASX:MEI) received firm commitments to raise AU$40 million through the placement of about 235.3 million new shares at an AU$0.17 apiece, according to a Wednesday filing with the Australian bourse.Proceeds will be used to advance the company's Caldeira project in Brazil towards a final investment decision, the filing said.Shares rose nearly 15% in morning trade Wednesday.

$ASX:MEI