The wind industry’s glory days are long gone: investment has collapsed across Europe, turbine manufacturers are losing $billions and dozens of offshore projects have been scrapped in the last 12 months. Call us a tad cynical, but if you offer a product that can’t be delivered on demand (which, accordingly, has no commercial value) and … Continue reading Dead Man Walking: Global Wind Industry’s Prospects Have Never Looked So Bad
Tag: Siemens financial performance
Cash Inferno: Offshore Wind Power Fastest Way to Squander Countless $Billions
In the absence of endless subsidies and guaranteed, fixed-price contracts (set at ludicrously high prices), the purported economic case for wind power never, ever stacks up. And the metrics are far worse out at sea. Notwithstanding the $billions in subsidies - gouged from taxpayers and/or lumped on power consumers’ crushing power bills - proposed projects … Continue reading Cash Inferno: Offshore Wind Power Fastest Way to Squander Countless $Billions
Crash Test Dummies: Wind Turbine Maker Siemens Suffers Massive Share Price Slump
The world’s wind turbine makers are bleeding cash; none of them are capable of turning a profit and all of them are facing financial ruin. General Electric’s renewables business blew a cool $2.2bn of shareholder value in 2022. Siemens Gamesa has axed hundreds of jobs in Europe and America. Vestas, Nordex and Enercon are also … Continue reading Crash Test Dummies: Wind Turbine Maker Siemens Suffers Massive Share Price Slump
Wind Industry’s Major Meltdown: In 2022 GE, Vestas & Siemens Energy Lost $4.6 Billion
In 2022, GE’s renewables division scorched $2 billion, Vestas vaporized $1.68 billion and Siemens Energy said goodbye to $943.48 million. It seems that it’s only the hope that governments might throw a few more taxpayer’s $billions in their direction that keeps these outfits hanging on. While that might have been a sensible tack to take … Continue reading Wind Industry’s Major Meltdown: In 2022 GE, Vestas & Siemens Energy Lost $4.6 Billion
Wind Turbine Makers Demand Taxpayer Bailout For Mounting Billion-Dollar Losses
Wind turbine makers are bleeding cash, and several are terminal. Siemens Gamesa has been axing hundreds of jobs in Europe and America. Vestas, Nordex and Enercon are also on the ropes. The cause of all this corporate misery is down to a collapse in wind factory investment, which is down to a collapse in wind … Continue reading Wind Turbine Makers Demand Taxpayer Bailout For Mounting Billion-Dollar Losses
Promises, Promises: Wind Industry Insiders Moan About Mass Layoffs & Even Larger Losses
In the absence of massive subsidies, there would be no wind or solar ‘industries’, so-called. So, it should come as no surprise that the jobs “created” in association with those industries are an easy come, easy go, kind of affair. The promise of thousands of jobs building wind turbines and solar panels is a renewable energy … Continue reading Promises, Promises: Wind Industry Insiders Moan About Mass Layoffs & Even Larger Losses
Subsidy Cuts Mean Wind Turbine Makers Face Miserable & Uncertain Future
The wind industry was built on lies and runs on subsidies; cut the subsidies and the whole thing collapses in a heartbeat. Wind turbine makers like Germany’s Siemens are having a rather miserable time of it, of late. Subsidies were already being wound back across Europe (and with it demand for these whirling wonders) when … Continue reading Subsidy Cuts Mean Wind Turbine Makers Face Miserable & Uncertain Future
RE Bites Back: Europe’s Wind Turbine Makers Can’t Compete With Coal-Powered China
Victims of their own success, Europe’s wind turbine makers are being crushed by rocketing power prices - caused by reliance on intermittent wind and solar. Oh, the irony... The staggering surge in European energy costs has rendered them unable to compete with Chinese manufacturers, whose operations benefit from abundant supplies of nuclear and coal-fired power. … Continue reading RE Bites Back: Europe’s Wind Turbine Makers Can’t Compete With Coal-Powered China
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