European renewable stocks slip after U.S. Senate proposes earlier end for wind, solar credits

Shares in European renewable energy groups slide after the U.S. Senate Finance committee unveiled changes to President Donald Trump's sweeping tax-cut and spending bill that would phase out solar, wind and energy tax credits by 2028

U.S. Senate tax committee proposed a full phase-out of solar and wind energy tax credits by 2028, according to a draft bill circulated on Monday

German solar power parts supplier SMA Solar S92G.DE is down around 4%; Danish offshore wind developer Orsted ORSTED.CO slips 2.8%

German wind turbine manufacturer Nordex NDXG.DE and its Danish peer Vestas VWS.CO are both down around 2%

Portugal's EDP Renovaveis EDPR.LS is down 1.5%, Germany's RWE RWEG.DE slips 1.2%