These should be great times to be in the wind energy business, especially in Europe. Governments here have long promoted offshore wind projects, and those efforts have accelerated since Russia started cutting natural gas shipments in its war against Ukraine.
“We need clean, we need cheaper and we need homegrown power,” Ursula von der Leyen, the European Union president, said in August.
But Europe’s wind turbine makers, the crown jewels of the region’s green energy industry and a source of manufacturing expertise, are reporting losses and laying off workers. Their problems stem partly from lingering supply chain issues and competition from Chinese manufacturers, and the issues could ultimately hinder Europe’s, and even the world’s, ambitions to quickly develop emission-free energy sources.
This month, Siemens Gamesa Renewable Energy, a Madrid-based company that is the premier maker of offshore wind turbines, reported an annual loss of 940 million euros ($965 million). The company has announced a cost-cutting program that is likely to lead to 2,900 job losses, or nearly 11 percent of its work force.
Vestas Wind Systems, the world’s largest maker of turbines, recently reported a loss of 147 million euros (about $151 million) for the third quarter.
General Electric, a large maker of wind turbines in the United States and Europe, has also struggled in its clean energy businesses. The company said last month that its renewable energy unit was likely to record $2 billion in losses this year.
Several problems are battering the industry, including rising costs for materials and shipping, as well as logistics snags, some of them a legacy of the pandemic. As a result, prices agreed on earlier for turbines, which cost millions of dollars apiece and can add up to hundreds of billions for large offshore wind farms, can result in huge losses for the manufacturers when they are delivered.
“Every time we sell a turbine, we lose 8 percent,” Henrik Andersen, the chief executive of Vestas, said in an interview.
Clearly, this demands more subsidies.
The world’s biggest transfer of wealth from the poor masses to the rich.
Don’t question the technology or the premise behind the demand just keep doing the same thing over and over again and expect a different outcome.
3 words:
Small.
Modular.
Reactor.
Reliable base load power has given us the freedom to imagine cockamamie schemes, that may or may not be feasible.
Worry about keeping the lights on for now, the rest will sort itself out. Don’t force radical change until you know for sure it’s really ‘sustainable’.
One word. Coal.
Two words: Fossil Fuels
Four Words: All of the Above!
Less energy for the average citizen, including not keeping the lights (or heat) on, is the intended result of the green lunacy. They want the grid to fail, and they are making significant progress towards their goal.
The Biden Crime Family is clearly signaling that it is easier to grift from billions spent on a needless land war in Europe than from renewable energy scams.
Time to invest in a woodlot and a steam powered generator. Let the urban Liberal voters starve and freeze starve to death.
Electricity is essential but it’s just no where near as useful as gas, oil or coal. Storage, transport and flexibility properties point to one clear winner.
The poor lefties are loosing their GRIFT!
““Every time we sell a turbine, we lose 8 percent,” Henrik Andersen, the chief executive of Vestas, said in an interview.” Meh, make it up on volume — please.
Strange, the early automobile manufacturers never faced these problems.
No one needs a wind turbine.
The industrial wind turbine industry faces the timeless marketing challenge of pushing a rope up a hill. Exactly why they’re subsidized.
And early automobile manufacturers weren’t lobbying the government to ban horses.
Exactly right.
L – As the E.U. political leaders vote for the de-industrialization of Europe. Their business
and blue collar community has begun to look abroad for locations supportive of it’s survival.
Or would it be simpler to replace the dystopian narcissists with competent leaders? 4,3,2,…
Tempers will grow as short as profits and surpluses and energy supplies. Best be careful
not to throw a temper tantrum on behalf of your personal identity group.
You can’t make a wind turbine with energy generated by wind turbines. There isn’t enough of it and it’s too expensive.
The math skills of Global Warmists on display … nothing but negative numbers … which they pretend are positive
Why is Europe worried about freezing in the dark this winter? Why are their electricity prices skyrocketing?
Wind power is supposed to solve all those problems. Europe has built all those windmills. Why aren’t the windmills working?
They’re quiet quitting. LOL
Meh.
As noted,if these whirling crucifixes were as advertised,Germany would have NO ENERGY problems.
Seems the lights are going out and the furnaces running out of fuel…
Perhaps we can repurpose these gross mistakes..Big belt drives to diesel engines?
Or should we fasten cutting edges to the tips and on cold winter days indulge in human nature by beheading the rip-off artists who wasted our tax dollars…
And use the mammal fat to create “Biodiesel” untaxed by the Carbon Tax thieves..
Just to be clear; Russia didn’t start “cuting natural gas shipments.” Natural gas to Europe was first cut by the Europeans boycotting Russian gas. Then, the Americans blew up the NordStream gas lines.