Wind Power Sector , Facing 'Inflection Point' , After Grim Earnings Outlook.
NBC reports that many renewable energy
firms are faced with struggling supply lines,
manufacturing failures and rising costs. .
Manufacturers have struggled to meet growing global
demand, which has increased production costs and
raised questions regarding economic sustainability.
Wind turbine subsidiary Siemens Gamesa saw
manufacturing faults emerge as the company
raced to increase the scale and pace of production.
Wind turbine subsidiary Siemens Gamesa saw
manufacturing faults emerge as the company
raced to increase the scale and pace of production.
Due to the higher costs that specialist wind energy firms
face, governments have been forced to provide larger
subsidies in order to restore balance to the market.
Consequently, many wind energy
stocks have fallen sharply in 2023. .
According to an Allianz Research report, the world's
eight largest renewable energy firms saw a combined
$3 billion decrease in assets in the first half of 2023.
The whole sector is grappling
with rising construction and
financing costs, quality-control
problems and supply-chain issues, Allianz Research economists, via NBC.
Inflation and global energy-price
fluctuations have also led to
increased costs for wind-power
projects, casting doubt over
the feasibility of many ventures, Allianz Research economists, via NBC.
Vestas CEO Henrik Anderson suggests that the
renewable energy sector has reached an inflection point
from which "winners and losers" will emerge over time.
We are very disciplined,
we work with our customers
and partners can rely on us,
and governments can rely on us. , Henrik Anderson, Vestas CEO, via NBC.
That, I hope, creates the strong
foundation for being one
of the winners in the industry, Henrik Anderson, Vestas CEO, via NBC