The wholesale collapse of Europe’s wind industry suggests that so-called ‘sustainable’ energy ain’t so sustainable, after all. Big turbine manufacturers are sacking workers in droves, watching their share prices plummet and pulling out all stops to stave off bankruptcy. Accumulating hundreds of €millions in losses, turbine maker Senvion entered into self-administered bankruptcy/liquidation in April.
Danish turbine maker, Vestas is on the brink and was recently forced to axe 600 of its groovy ‘green’ jobs. Its rival Siemens Gamesa, has also been forced to wield the axe, sacking 600 workers in its Danish operations.
As Dr John Constable details below, the writing’s been on the wall for some time [Note to Ed: is this what they mean by the ‘inevitable’ transition?!?].
Dr Constable clearly enjoys an unusual moment of candour from one of Europe’s top rent seekers, Eddie O’Connor. Eddie & Co have apparently recognised, with terrifying clarity, that their…
View original post 921 more words