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Vestas has squeezed its suppliers and they are feeling the financial hit
The wind turbine manufacturer has used its powerful position to negotiate favourable conditions with its suppliers, whose liquidity is impacted.
Siemens Gamesa puts figures on German layoffs
The turbine producer's employees in Northern Germany, in particular, are hit by the layoffs. Germany and Denmark will remain crucial for offshore wind, says the CEO, while the new nacelle factory in Cuxhaven has dodged dismissals.
Vestas is the undisputed leader – but one competitor in particular poses a threat
Vestas' profitability is miles ahead of competitors, but Siemens Gamesa could catch up over the coming years.
EU member states warming up to higher targets
At an informal energy council meeting in Sofia yesterday, several of EU member countries expressed that they were willing to budge on targets for renewables consumption and energy efficiency in 2030 and increase ambitions.
Canceled energy project costs Semco millions of dollars
Despite a new slide in revenue and postponed wind projects, Semco Maritime reduced its deficit in 2017. A canceled power plant project in the renewables unit contributed to the deficit.
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