EnergyWatch

Siemens Gamesa can't say when things will normalize

Neither Siemens Gamesa nor Vestas can see an imminent end to dramatic price increases and squeezed supply of materials and transport.

Photo: Norsk Vind

If it's not one factor eating away at the profit margins of wind turbine manufacturers, it's another.

A few years back when a long series of countries switched from offering fixed prices for wind power over to holding competitive public tenders, the move triggered a price war that lasted years among wind OEMs. When the armistice finally did arrive, a period followed with manufacturers shunning poor contracts. Then the coronavirus hit, leading directly to the current situation with commodity scarcity and galloping freight rates.

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