X

Sign Up To Our Free Newsletter

Join Now

Thanks for subscribing to our free newsletter!

ERROR

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

  • 3 minutes Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Scientists Warn That Filling The Sahara With Solar Panels Is A Bad Idea
  • 11 minutes United States LNG Exports Reach Third Place
  • 15 minutes Joe Biden's Presidency
  • 9 hours America Makes Plans to Produce Needed Rare Earth Minerals Domestically
  • 2 hours IS SAUDI ARABIA SENDING A MESSAGE TO BIDEN
  • 9 hours U.S. Presidential Elections Status - Electoral Votes
  • 2 days Texas forced to have rolling black outs, primarily because of large declines in output from fossil fuel power plants
  • 2 days Former BP Exec "Biden not in war against oil" . . Really ?
  • 2 days Texas Supply Chain Massacre
  • 2 days Here we go - again: plug-in hybrids cost motorists more than what they were told
  • 5 hours Top Conservative Lawyer Says Trump Can Stand Trial
  • 6 hours “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 2 days An exciting development in EV Aviation: Volocopter
Offshore Oil Could Soon Be Powered By Wind

Offshore Oil Could Soon Be Powered By Wind

Norwegian oil major Equinor recently…

A Worrying Bottleneck For Offshore Wind Energy

A Worrying Bottleneck For Offshore Wind Energy

While offshore wind is becoming…

Warren Buffett’s Secret For Super Cheap Energy

Warren Buffett’s Secret For Super Cheap Energy

Warren Buffett’s wind turbines have…

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Premium Content

Good News for Wind Turbine Manufacturers

European wind turbine manufacturing giants like Denmark’s Vestas Wind Systems A/S (VWS), Germany’s Nordex SE (NDX1) and Gamesa Corp. Technologica SA (GAM) are in for a nice year, with profit recouping predicted after years of losses and shutdowns.

For the first time since 2010, these European wind turbine manufacturers are poised to register pretax profits, and investors are already driving shares up in anticipation.

According to Bloomberg, shares in Vestas, Nordex and Gamesa have jumped around 220% this year on forecasts.  

Things have been bad since 2010, with thousands of layoffs and plenty of plant closures, combined with subsidy cuts in Europe that hit these companies hard and overcapacity. 

Related article: US Wind Sector Booms, Driving Prices Down

The past few years have been all about building efficiency and cutting costs for a comeback—and that comeback has begun, with a 31% recovery in clean energy shares for 2013.

Vestas has recovered from a 14-year low and analysts predict over 100 million euros in operating profits this year, while Nordex has recovered 180% after bottoming out at a seven-year low in 2012 and is expected to record a net profit of 10 million euros. Gamesa has more than tripled so far this year, with last year being its worst ever, and analysts are predicting 41 million euros in profits.

By. Charles Kennedy of Oilprice.com


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Chuck on August 28 2013 said:
    Vestas cut over 2,000 jobs and is in the middle of a huge slump. Vestas' PR department throws out positive media releases in the hopes that some suckers will believe them and pass them on.

    All the hand waving coming from Vestas is meant to distract from the fact that the company can't survive on the merits of big wind turbines. It needs government mandates, supports, breaks, and kickbacks so monstrous that they undermine the stability of the underlying economy governed by that administration.

    Wind is unpredictable, unreliable, turbines often consume more energy than they produce, and they break down after just a few years of unproductive use.

    http://www.businessweek.com/news/2012-01-06/vestas-future-questioned-after-revenue-forecasts-cut-twice.html

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News