European Renewables Slump on US Plans to Tighten Tax Rules (2)

Vestas Wind Systems A/S and Orsted A/S slumpedon the first day of trading after the latest version of President Donald Trump’s spending package proposed a more aggressive phase-out of tax incentives for US wind and solar projects.

The newly released version of the Senate’s tax and spending package, unveiled late Friday, requires wind and solar projects to be fully operational by the end of 2027 to qualify for clean energy incentives. This represents a significant tightening from the earlier proposal, which only required projects to begin construction by the end of 2025.

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