Contributor
VP at Neo Financial. I cover finance, energy, and market dynamics.
The wind power giant, Siemens Energy, saw its stock crash 37% following a profit warning due to difficulties within its wind turbine division. These types of problems are not isolated to Siemens. Vestas, the world’s largest maker of wind turbines, has been wrestling with similar problems, facing a profit margin that recently dipped below 5%. These challenges raise concerns about whether industry turbulence is a symptom of natural growing pains or if estimates for wind power growth need to be recalibrated. In the near term, it may be both.