Thyssenkrupp Nucera is reassessing its U.S. green hydrogen portfolio, dropping projects deemed unfeasible following policy changes under U.S. President Donald Trump that have altered the tax and spending framework for low-carbon energy.
Chief Executive Werner Ponikwar said the company had gained greater clarity on the financial viability of its U.S. ventures after legislation eliminated certain renewable energy tax credits. “We have sorted out all projects that have less chance of being realised due to the new framework conditions in the U.S.,” Ponikwar told journalists after the company reported its results.
The changes include the effective phase-out of renewable energy tax credits after 2026 for projects that have not commenced construction, with an extended deadline to the end of 2027 for those breaking ground before that date. Ponikwar noted that this would allow the company to move forward with U.S. projects already in advanced stages.
“We are convinced that the hydrogen electrolysis market continues to offer enormous potential,” he said, while acknowledging that the company will need more patience than initially anticipated. If certain U.S. projects do not proceed, Thyssenkrupp Nucera plans to reallocate its resources in the country to other activities, a position Ponikwar has previously stated.
