With the world trying to transition at pace toward cleaner energy, equipment manufacturers are struggling to keep up with soaring global demand, leading to rising production costs and questions over the economic sustainability of large-scale projects from the industry’s major players. Manufacturing faults, most notably at Siemens Energy’s wind turbine subsidiary Siemens Gamesa, have emerged as companies race to build turbines at a greater pace and scale.
However, it also warned that external factors clouded its near-term outlook, pulling back its full-year investment and margin guidance. Its CEO Henrik Andersen told CNBC Wednesday that the sector was at an inflection point and that the market would eventually identify its “winners and losers” over time. “We are very disciplined, we work with our customers and partners can rely on us, and governments can rely on us.