<div id="readability-page-1"><img width="1152" height="720" src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/07/Wind-mills-in-a-field.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/07/Wind-mills-in-a-field.png"/>Following the US Senate’s passage of a revised budget bill, shares in European renewable energy companies saw a rise on Wednesday.This new bill offers a more favorable outlook for the wind industry than its previous iteration, according to a Reuters report.<h2>Shares rise</h2>Shares of Danish wind turbine maker Vestas saw an approximate 9% increase earlier in the session, while its German counterpart Nordex rose by about 3%.Danish offshore wind developer Orsted and Portuguese renewable energy firm EDP Renovaveis saw their stock prices rise by approximately 3% to 4%.German utility RWE, a major global developer of offshore wind farms, experienced a modest increase of about 1% in its stock.Additionally, shares of German solar power components supplier SMA Solar surged by approximately 9%, reaching their highest value since March.According to the Reuters report, the US Senate’s large budget bill, passed on Tuesday, will impede the development of wind and solar energy projects, even though some disputed clauses were eliminated.For wind and solar energy projects, any new construction commencing after the next 12 months must be operational by the close of 2027. However, projects beginning construction within the next year are exempt from this deadline, according to the revised Senate bill.<h2>Excise tax </h2>After extensive, last-minute negotiations with influential Republican senators, the Senate chose to eliminate a proposed excise tax. The tax would have been levied on solar and wind energy projects failing to adhere to stringent standards, with the Republicans advocating for more favorable conditions for renewable energy initiatives.An amendment to remove a surprising tax provision, which appeared in the final draft, was introduced by Iowa Senators Joni Ernst and Chuck Grassley, along with Alaska Senator Lisa Murkowski. Their votes were vital for the bill’s passage.Many Republican states are home to significant renewable energy industries.The Senate revised the language concerning the eligibility of solar and wind projects for tax credits under the 2022 Inflation Reduction Act. The final Senate version permits projects to utilise these valuable credits if construction commences before 2026, a change from an earlier version that tied eligibility to when projects entered service.<h2>Hinder development</h2>Critics argue that the Senate bill will hinder the development of new wind and solar energy projects. This could leave the United States with insufficient electricity capacity, particularly concerning given the current surge in energy demand.This could lead to increased consumer costs and job losses at various project sites nationwide that rely on these credits.Lena Moffitt, executive director at climate advocacy group Evergreen Action was quoted in the report:<blockquote>Senate Republicans just voted to trigger the largest spike in utility bills in American history.</blockquote>The Trump administration has dismissed concerns regarding the bill’s aggressive phasing out of renewable energy tax credits and its potential effects on grid stability and power prices. They assert that terminating these subsidies will facilitate the adoption of preferred baseload energy sources such as gas and nuclear power.“The One Big Beautiful Bill removes the nonsense and distortions from energy markets and unleashes American business to produce energy that works WITHOUT subsidies!,” Energy Secretary Chris Wright said on X.<h2>Criticism </h2>US President Donald Trump outlined a package of priorities including tax cuts, reductions in social safety net programs, and increased spending on military and immigration enforcement.Earlier this week, business and labor groups criticised the bill’s proposed phaseout of tax credits.The Senate bill stipulates that renewable energy tax credits will effectively be phased out after 2026 for projects that have not yet begun construction. For wind and solar projects that start construction after this date, they must be operational by the end of 2027.Developers of community solar projects have cautioned that this bill could halt thousands of projects currently in development.The post European renewable energy shares rally after US Senate passes budget bill appeared first on Invezz</div>

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European renewable energy shares rose after the US Senate passed a revised budget bill, offering a favorable outlook for the wind industry. Danish wind turbine maker Vestas saw a 9% increase, while German Nordex rose by 3%. Orsted and EDP Renovaveis stocks increased by 3-4%, and RWE by 1%. SMA Solar shares surged by 9%. The bill affects wind and solar projects, with construction deadlines and tax credit eligibility changes.