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Offshore wind: industrialists facing the challenge of profitability and Chinese competition


DECRYPTION - The players in the sector, whose health is not always flamboyant, must manage the looming Chinese threat.

The situation is, to say the least, paradoxical.

Offshore wind farms are proliferating in Europe today.

Governments want to put their foot on the accelerator, as the Ostend summit will show.

And yet, the health of industrialists in the sector is not very flamboyant.

“Europe was the cradle of offshore wind power, but the financial state of European turbine manufacturers is a symbol of the current tensions in the sector”,

recognizes Stéphane His, independent consultant specializing in renewable energies.

Last year, the Danish Vestas, the world's largest manufacturer of wind turbines, lost nearly 1.6 billion euros.

Siemens Energy, which is in the process of taking full control of wind turbine manufacturer Siemens Gamesa, for its part lost 650 million euros over the same period.

“The offshore wind market has never been so buoyant, yet investment decisions were undeniably hampered last year by rising financing and material costs”

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Source: lefigaro

All news articles on 2023-04-23

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