European wind power developers and turbine manufacturers’ share prices opened below yesterday’s closes as the world waits on the result of the US presidential election.
Developers and manufacturers active in the US – the world’s second largest wind power market – saw share prices open below closing prices, with most recovering ground in early trading.
At the time of writing, neither US president Donald Trump or Democrat candidate Joe Biden has gained enough electoral college votes to secure the presidency.
Shares in Danish manufacturer Vestas – which has 28.2GW installed in the US, according to Windpower Intelligence – opened at DKK 1,004 down 9.8% from yesterday’s close, but recovered slightly following the announcement of its Q3 results.
Meanwhile, Siemens Gamesa Renewable Energy shares opened at €24.86 down 3% from yesterday’s close, and Nordex shares opened at €11.74, down 9.6% from yesterday’s close.
Shares in both manufacturers – which have 21.8GW and 4.8GW installed in the US respectively – recovered in early trading.
European developers active in the US market also share prices open below closing prices as votes were being counted.
Enel (€7.08 opening, down 1.9%), RWE (€32.07, down 2%) and EDF Renewables (€10.24, down 0.9%) all had opening share prices below yesterday’s closes, before their respective prices recovered and climbed above day-end prices.
The developers have helped to commission 6GW, 4GW and 5.2GW respectively in the US and have pipelines of 1.8GW, 2.8GW and 4.4GW.
Meanwhile, share prices in Ørsted (DKK 989, down 4% from yesterday’s close) and EDP Renewables (€16.18, down 3.5%) also opened low before recovering slightly.
The developers have stakes in 1.7GW and 7.3GW of operational wind power in the US respectively, and pipelines of 5.1GW and 3.1GW.
At the time of writing, US stock markets had not yet opened.