Related Articles
Turbine manufacturers face high commodity and logistics costs
Forward article link
Share PDF with colleagues

European turbine makers continue to face headwinds

The outlook for renewable energy has never been brighter. So why are so few manufacturers profiting from booming demand for wind turbines?

As governments commit to net-zero strategies, many have laid out plans for accelerating the rollout of renewables to decarbonise their national power supplies. However, despite the growing demand for wind turbines, manufacturers have continued to see profits fall as commodity prices and logistics costs rise. Danish wind turbine manufacturer Vestas generated more than €5.5bn ($6.3bn) in revenue for Q3 2021 and built its backlog of orders to 24GW of capacity, valued at €19.3bn. However, its Ebit before special items fell to €325mn from €412mn in Q3 2020, while overall profit halved from €290mn to €123mn. “The quarter was… characterised by supply chain instability and rising energy prices as



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Turbine manufacturers post major losses
26 January 2022
GE and Siemens Gamesa Renewable Energy have announced multimillion-dollar losses over 2021 and the past quarter, while Vestas posts cautious 2022 guidance
New EIB-backed energy efficiency fund to tackle ‘huge underinvestment’
26 January 2022
Solas Sustainable Energy Fund to support energy efficiency projects mainly in Germany, Spain and Ireland and is aimed at small-to-mid-size insurers and pension funds
Crediting emissions saved in plugging oil and gas wells
26 January 2022
Avoided emissions could be credited as carbon offsets and sold on exchanges
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video