The transition to renewable energy in the United States remains strong despite the Trump administration’s policies favoring oil and gas production, according to Hakan Agnevall, CEO of Finnish power plant manufacturer Wartsila. Speaking on Wednesday, Agnevall stressed that renewable energy sources such as wind and solar are expanding rapidly due to their affordability.
The Trump administration has taken steps to maximize fossil fuel output, including declaring a national energy emergency to accelerate permitting and withdrawing the U.S. from an international climate agreement. However, Agnevall asserted that these moves would not halt the shift toward renewables.
“Renewables are growing quicker than ever in the U.S.,” Agnevall told Reuters. “We foresee that this trend will still continue, because it’s the cheapest source of energy.” While offshore wind projects may face regulatory obstacles, he noted that onshore wind and solar developments are likely to proceed as planned.
Wartsila's technology plays a vital role in local power generation. In January, the company participated in the ribbon-cutting ceremony for four new generators at the Randolph Harley power plant on St. Thomas. These generators, forming part of WAPA’s Phase Two project, can operate on both diesel and liquefied propane gas, providing much-needed flexibility in fuel sourcing.
“The Wärtsilä Phase Two project is a significant evolution in power generation here in the United States Virgin Islands,” said WAPA CEO Karl Knight at the event. The upgraded system is expected to enhance grid reliability and reduce fuel costs, marking an important milestone in the territory’s efforts toward more sustainable energy solutions.
Renewables in Texas and Wartsila’s Expanding Market
Texas, long known for its dominance in the oil and gas industry, is also emerging as a key player in renewable energy. Agnevall pointed out that approximately 40% of the installed power generation capacity in Texas now comes from renewable sources. The state remains a critical market for Wartsila, particularly for new power plants that integrate both renewable and conventional energy sources to ensure grid stability.
Wartsila, which manufactures both ship engines and power plants, reported stronger-than-expected fourth-quarter orders earlier on Wednesday. The company anticipates continued growth in both its marine and energy divisions throughout the year.
Despite the positive outlook for renewables, Agnevall acknowledged that Wartsila’s energy business could be affected by potential U.S. tariffs targeting the European Union. However, he noted that the impact remains uncertain at this stage.
The increasing demand for data centers, fueled by the growing use of artificial intelligence, has further stressed the U.S. power grid. Agnevall highlighted that capacity constraints are prompting data center developers to consider building their own power plants to secure a stable energy supply. “This could evolve into interesting business for us,” he said, indicating Wartsila’s potential involvement in addressing the energy needs of this expanding sector.
