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Wind power. the fear of the Chinese wave

Dozens of orders and great prospects. Wind turbine manufacturers seem to have everything to celebrate. It is not so. The world champions of discipline suffer: the Danish Vestas, the German Siemens Gamesa and the American GE Renewable in France. Although dominant in their markets, they have multiplied earnings alerts this year. This, even if they are able to pass on a very large part of the inflation in the materials used, such as steel, to their customers through 40% price increases.

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“They’re really in no position and couldn’t afford to do anything other than pass the prices on to their customers.”, says one of the managers of a large French energy company. For several years, prices have been extremely compressed by project developers such as EDF, Engie or TotalEnergies, which compete fiercely in public tenders. The cheapest carries a building and operating permit for twenty…

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Source: Le Figaro

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