Tight interim reports from German wind firms point toward further consolidation

The crisis is far from over for the medium-sized German wind turbine manufacturers Nordex and Senvion. In their H1 interim reports, both have informed investors of poor results regarding low activity levels and an ongoing price squeeze. The question is, how long can these companies remain independent?


The wind energy industry underwent vast change in the period 2015-2017. Siemens Wind Power and Gamesa merged in the beginning of 2017. That was only one year after Nordex and Acciona joined forces, GE bought Alstom in 2015 and fused wind divisions, and GE also bought Danish LM Wind Power in 2017, thereby asserting itself on the market for the largest wind turbine blades.

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