Democrats' midterm win lifts global renewable energy stocks

Democrats' sweeping victory in the US midterm elections has boosted the global renewable energy industry, with shares in major developers like Ørsted rising sharply as investors anticipate reduced political interference from the White House. Ørsted's market value jumped nearly 10% before closing 5% higher, while EDP Renewables and Engie rose over 3% and RWE gained about 1%. The rally follows Trump's repeated stop-orders against offshore wind projects, which had contributed to Ørsted losing over 70% of its value since 2025. Democratic control of Congress may block further repeals of solar and wind tax credits, protect battery storage incentives, and scrutinize offshore wind lease buybacks. The "blue wave" in several Republican states could also boost support for clean energy investments, though analysts caution it's too early to declare a turning point.