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...This Lex note has been amended to correct the capacity of the Siemens Energy turbine....
...Analysts note the price tag reflects the wider increase in the cost of capital and excludes savings from commodity shocks and the benefit of emissions reductions....
...Note that “carbon neutral” is a looser target than net zero, allowing for more offsetting and vague boundaries....
...Meanwhile, Bluebell notes, BP shares enjoyed a bounce last February when it announced the weakening of its green targets....
...This level of opposition remains about the same today, it notes. Industry body WindEurope welcomes EU moves to accelerate the renewables rollout but notes many proposals have yet to be implemented....
...At the time of writing in February, Lex might have looked back to note that the rustproof metal price had more than doubled to nearly £3,200 per tonne since May 2020....
...China’s Envision captured the biggest share of orders (3.6GW), followed by Denmark’s Vestas, and China’s Sany, according to WoodMac....
...(Myles McCormick) Data Drill Wind turbine manufacturer Vestas surprised investors with a profit yesterday after a year of persistent quarterly losses....
...they’re less in fantasy,” said Saleur, whose long-short energy hedge fund is up 48 per cent this year, and has profited from bets against UK hydrogen energy group ITM Power and Danish wind turbine maker Vestas...
...“There is no obvious valuation support with Nel,” said James Hanbury, a partner who manages about $1.3bn in assets at Odey, in a note to investors seen by the FT....
...While hydrogen-related stocks had a rough year in 2021, they note, government strategies took some big steps forward....
...Vestas, the world’s largest wind turbine manufacturer, says the war in Ukraine will add to the industry slowdown....
...Shares in wind turbine maker Vestas fell 37 per cent. Meanwhile, First Solar fell 14 per cent and SolarEdge 9 per cent....
...“Housing associations and local authorities have been given clear instructions that they must decarbonise their housing stock,” he notes....
...Vestas said the wind turbine industry’s supply chain and profitability woes would continue, as the green energy industry faces challenging times....
...In that note, it told us that “In 2020 we completed our goal of having 100 per cent of our active and advisory portfolios ESG-integrated”....
...At first, Vesta is intrigued by the note, then preoccupied. Soon it becomes an all-out obsession....
...Two things to start: Vestas is building the world’s biggest wind turbines, further driving down supply costs....
...The pandemic has accelerated the shift towards digital payments, a theme running through many of this week’s Lex notes....
...Mr Biden’s election — presumed, but yet to be confirmed — is the subject of our first note....
...Our first note in a bumper festive special newsletter today is on another deal in the American shale patch, where Diamondback Energy is beefing up its Permian position....
...Given our view of its strong growth in offshore and scope for onshore profit turnaround, we upgrade Siemens Gamesa to Buy (from Neutral); we maintain Vestas at Buy and Nordex at Neutral....
...We note that, on top of earnings, we expect M&G to release capital backing the annuities business, which is in run-off....
...Danske said it took note of the regulator’s decision. “It will continue to be our goal to have a good and constructive dialogue with authorities on the case,” it added....
...The fall puts Vestas on its cheapest valuation in over four years. Note also that not all Republicans in the Congress want to see the back of this tax credit for renewable energy....
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