, and it predicts rapid growth for the sector over the next few years. Vestas, Siemens Gamesa, and GE are not doing well on the stock market and have had to re-evaluate their workforce requirements.
Wind contracts are being negotiated in the light of inflationary pressures in all areas, including steelmaking. The big players are having to readjust in an era of recession economics. “A decreasing margin on turbine sales translates into months-old Power Purchasing Agreements leaving energy distributors on the fringes of profit making.”
“September Rethink Energy reported that China’s Q2 numbers showed rampant offshore wind installations with additional capacity for the half year at 6.8 GW, accounting for 78% of all global new additions, and elsewhere in Asia in Vietnam and South Korea there was more growth. But this week American Clean Power reported disastrous figures for the entire US renewables industry in Q3, with both wind and solar falling away and only the battery energy storage market still in growth.
Wind energy literally saving Europe now from gas shortage