General Electric, one of the world’s leading wind turbine suppliers, reported that revenues in its renewable energy arm fell almost a fifth in the year to December, in part because of lower turbine orders.
Revenues this year could be lower still and, even though turbine prices were rising, Vestas would be “challenged on profitability in 2023″, it said.An increase in office stock, the switch to hybrid working, as well as job losses in the tech sector have contributed to a slowdown in the Dublin commercial real estate market, according to industry expert, John Moran. The CEO of JLL joins Ciaran Hancock to discuss the 13% office vacancy rate driven partly by the increase in 'grey space.
But the combined effects of supply chain crunches, inflation, growing competition from China and the lengthy bureaucratic process of getting new project approvals drove the leading turbine makers to cut jobs last year.