Harnessing the Storm: The Battle for Profitability in the Wind Power Industry

Emilie Writes
3 min readSep 21, 2024
Hornsea One offshore wind farm — courtesy of Ørsted A/S
It is safe to say that the wind energy sector has seen massive growth over the past decade, with new industry leaders arising in fruitful market conditions.Last October, the European Commission released the EU wind power package with an that aims for an increase of 12 GW per year in the EU’s total offshore wind production. And across the Atlantic, the United States Bureau of Ocean Energy Management has — in line with the Biden administration’s offshore energy targets.These supportive regulations should only provide the top producers with more confidence and freedom to expand. So in such affirmative conditions, why have profit margins become so slim, and why have stocks performed so poorly?Market-leading wind turbine companies Vestas, Siemens Gamesa, and Ørsted have all experienced crashing stock prices despite the high demand for new wind farms.Just last year, due to the expense of repairs on its onshore wind turbines, Siemens Gamesa had to issue profit warnings, which sent its . Faults were discovered within some of its turbine rotor blades and bearings. The same year, a 22-tonne Siemens Gamesa blade , seriously…

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Emilie Writes

Student journalist from Scotland. Watch this space for informative, fun and thought-provoking rambles on all topics.

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