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...And the higher trading multiple of “renewables specialists” seems to contradict the huge write-offs that Ørsted and Siemens Gamesa recently recorded....
...We are not looking to develop a new wind farm in the next round here in Taiwan. It was very important for us to diversify our portfolio from a regional perspective....
...in the US....
...Meanwhile, Siemens Energy revealed last month it was in talks with the German government over funding support as its wind turbine division, Siemens Gamesa, struggles with technical problems with its products...
...Yes, dividend culture has declined in the US, but it is still, by some distance, the world’s most vibrant equity market. That’s the second pushback: why are you complaining about the US growth market?...
...Danish offshore wind farm specialist Ørsted has recently had to write down the value of certain US wind contracts for this reason. Its share price is down 59 per cent in the past year alone....
...its subsidiary Siemens Gamesa....
...Siemens Gamesa is battling technical problems with its latest onshore wind turbines as well as challenges ramping up offshore wind....
...Spain’s Iberdrola has cancelled or sought to renegotiate power contracts for offshore wind farms in the US after costs surged....
...Siemens Energy has scrapped its profit outlook for the year amid mounting problems at its wind turbine unit Siemens Gamesa....
...But it’s hard not to conclude that a chill wind is blowing through European football this winter....
...Analysts at JPMorgan said the warning came at a time when “expectations were building that the worst for the wind industry is now behind us”, but added that technical problems were an issue for others, too...
...Siemens Energy earlier this month said it expected to rack up a €4.5bn loss this year as it struggles to fix its ailing wind turbine business Siemens Gamesa....
...The German industrial group said it was seeking government guarantees for the projects of Siemens Gamesa, a subsidiary that makes wind turbines....
...US private equity firm General Atlantic is in talks to acquire infrastructure fund manager Actis as it seeks to diversify and add assets ahead of an expected initial public offering, according to four people...
...On Friday, the company announced a $300mn writedown on the value of its US offshore wind portfolio....
...And as government support programmes wind down, the challenge is keeping prices competitive....
...He joins from technology-focused private equity firm True Wind Capital. EQT has hired Maarten de Jong and Mark Braganza to its private capital healthcare team, based in London....
...On Monday, Siemens Energy booked charges worth €2.2bn due to problems at its wind turbine division Siemens Gamesa....
...Siemens Gamesa chair Christian Bruch also said last week that the industry was “facing serious financial challenges,” while wind farm developer Orsted announced a $365mn impairment on a major US offshore...
...Manufacturers including Vestas and Siemens Gamesa warned in January that the wind industry would continue to suffer in 2023, due to high materials costs and slow approvals for new wind power projects in...
...European wind turbine manufacturers including Vestas and Siemens Gamesa endured a bruising 2022, as a combination of rising input costs, supply chain constraints and the slow permitting process for new projects...
...The wind is blowing in your face today, not at your back,” said Patrick Dwyer, an adviser whose clients invest in buyout funds....
...UK wind power costs £50/MWh. We are nowhere near that. The US facility that delivered net energy gain cost $3.5bn to build. It produced only enough electricity to press a laundry load of shirts....
...That’s a “buyer beware” approach that fits, in theory, with the general US model of disclosure....
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