By Kalte Sonne
At the rnd, the situation at Siemens and there at the wind power division is discussed: losses despite full order books. The popular argument that Peter Altmeier himself destroyed the German wind power industry unfortunately does not apply here. They are management errors.
“Wind turbine manufacturers are currently struggling worldwide because supply chains are tearing up and manufacturing costs are exploding. But at Siemens Gamesa, there are home-made problems with a turbine for onshore wind farms. Forecasts were recently revised downwards in series and the management in Spain was replaced. In addition to energy transmission, the glimmer of hope at Siemens Energy is currently the discontinued business with gas-fired power plants, which is impressively profitable compared to the environment. With an increase of 60 percent in the most recent quarter, order intake is intact across all businesses. However, because at least for wind turbines this was regularly associated with loss orders in the past, a current record order backlog of 93 billion euros is not exclusively good news.”
Also at the rnd, Stefan Winter comments on the capital investments in the wind power industry:
“However, the times when wind power automatically came to the table as the epitome of green investments are over. Because in the industry there was everything you know from highly acclaimed investment trends to visit: pink forecasts, inflated prices, half-silk offers on the gray capital market, bankruptcies, processes. This did not go unnoticed by the plant manufacturers. Anyone who bought shares of Siemens Gamesa, Nordex or Vestas in the confidence that they were betting on a megatrend with stable growth has left some nerves. The business is by no means more profitable or stable than others. In addition to the companies’ own mistakes, this is also due to the extreme dependence on political framework conditions.”
The wind business is a restructuring case. In addition, the withdrawal from Russia hits the office. And the gas turbine for Nord Stream 1 is still in Germany.