The wind industry’s sudden implosion saw Siemens suffer a €5.8 billion ($6.3 billion) market value write-down in a single day in June, followed by another 40% write-down in October - slashing a further €3 billion ($3.16 billion) off its market value, following revelations by Siemens that it was demanding billions in government-backed guarantees from the … Continue reading Floating Wrecks: Perpetually Failing Siemens Offshore Wind Turbines Practically Uninsurable
Tag: Floating wind turbines
Floating Circus: Offshore Wind Industry’s Floating Turbine Plan Scoops Parody Award
The more desperate rent-seekers become, the sillier they sound. The latest plan to float 800 tonne turbines at sea sounds like parody in motion. Notwithstanding that the offshore wind industry can’t make a buck in shallow waters where their turbines are firmly connected to the ocean floor - dozens of grand offshore projects have been … Continue reading Floating Circus: Offshore Wind Industry’s Floating Turbine Plan Scoops Parody Award
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