Siemens expects increased competition on offshore wind

A competitive offshore wind market could become tougher with even more actors wanting a share, says Siemens' CEO.

Tough competition in offshore wind could intensify as new players enter the market, says Siemens Wind Power according to Danish daily Børsen.

"There are several huge players currently looking to get into the market,  and there is very tough competition in a market which, size-wise, will be on the lower end of the scale in the short and medium term," says Michael Hannibal, global director for offshore wind at Siemens Wind Power, to the newspaper.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Siemens Gamesa's deep financial woes are halfway self-inflicted

Despite successfully forwarding the external costs to customers, onshore wind projects valued at EUR 2bn are being delivered at zero-profit margins in the years to come, according to the turbine maker’s CEO. Here and there, things might have moved a bit too fast.

Siemens Gamesa drags down majority shareholder

Despite better sales than expected in the gas business, Siemens Energy downgrades its full-year guidance in the wake of Siemens Gamesa’s announcement of potentially massive losses in 2022.

Further reading

Related articles

Latest News

See all jobs