NewsyList

Wind turbine builders face headwinds

Wind turbine manufacturers have suffered the same horrors as other manufacturers. 106894467/Naj – stock.adobe.com

DESCRIPTION – Rising costs, falling prices, Chinese competitors … Vestas, Siemens Gamesa and GE Renewable Energie suffer.

One in two wind turbines in the world were produced by European manufacturers. However, they are going through serious problems. The Danish Vestas suffered a net loss of 119 million euros in the second quarter, compared to a profit of 83 million at the same time last year. Its German-Spanish rival Siemens Gamesa is no better: it lost more than 200 million euros in the second quarter and lowered its forecast for the year. Paris-headquartered GE Renewable Energy lost more than $400 million in the second quarter and lowered its 2022 targets.

This is the paradox of the sector: accumulating losses despite wonderful growth prospects. Thanks to the energy transition, investments in offshore wind power should double worldwide to reach 100 billion dollars by 2030, according to the firm Rystad Energy. But since the end of the Covid crisis, the industry has suffered from the kilowatt-hour race…

This article is for subscribers only. You have 68% left to discover.

Cultivating your freedom is cultivating your curiosity.

Keep reading your article for €0.99 for the first month

Already subscribed? Sign up

See also  Serbian President Vučić warns of a food crisis

Share:

Facebook
Twitter
LinkedIn

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Social Media

Most Popular

On Key

Related Posts