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: Siemens share price
Unions Backing Sinking Solar & Wind Playing Russian Roulette With Retirement Savings
Clever investors have already pulled their cash out of wind and solar outfits, as projects get scrapped and turbine and panel makers lose $billions. A complete Enron-style collapse is on the cards. Companies like Shell are walking away from multi-billion-dollar projects, big players like Orsted, Vestas and Siemens Gamesa are in structural financial crisis - … Continue reading Unions Backing Sinking Solar & Wind Playing Russian Roulette With Retirement Savings
Enron All Over Again: Wind & Solar Industries Become Total Financial Train Wrecks
Ponzi schemes last only as long as their creators can draw in fresh suckers. The wind and solar industries are fast running out of suckers. America’s Enron set the standards early, parading manufactured financial statements that never reflected the fact that Enron was a worthless house of cards. Gullible investors kept piling in, which helped … Continue reading Enron All Over Again: Wind & Solar Industries Become Total Financial Train Wrecks
Grand Green Dream Goes Up In Smoke: Wind & Solar Industries Face Total Collapse
That ‘industries’ built on lies, myths and subsidies are in freefall is hardly surprising. Nothing about intermittent wind and solar have never made any sense. Now the markets are starting to cotton on. Governments are refusing to bail out wind power outfits - rejecting their ever-increasing demands for ever-increasing subsidies. The knock-on effect on the … Continue reading Grand Green Dream Goes Up In Smoke: Wind & Solar Industries Face Total Collapse
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
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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