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Wind power: the fear of the Chinese surge


DECRYPTION - The race for innovation is drying up the resources of European manufacturers, Vestas and Siemens Gamesa in the lead.

Dozens of orders and marvelous prospects.

Wind turbine manufacturers seem to have everything to celebrate.

It is not so.

The world champions of the discipline, the Danish Vestas, the German Siemens Gamesa and the American based in France GE Renewable are suffering.

Although dominant in their markets, they have multiplied earnings alerts this year.

This, even if they were able to pass on a very large part of the inflation of the materials used, such as steel, to their customers via price increases of 40%.

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“They are really not in good shape and had no means of doing anything other than pass on the prices to their customers

,” notes one of the managers of a major French energy company.

For several years, prices have been ultra-compressed downstream, by project developers, such as EDF, Engie or TotalEnergies, who compete fiercely in public tenders.

The cheapest carries the authorization to build and operate for twenty…

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Source: lefigaro

All business articles on 2022-11-28

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