Wind turbine maker Siemens Gamesa reports strong demand end-2017

German-Spanish wind turbine maker Siemens Gamesa reported an increase in orders of 29 percent in the final three months of 2017 compared to a year earlier, driven by strong demand from the United States, Denmark, Thailand and Egypt. News agency Reuters writes that while the company’s revenue dropped in the period, which is the first quarter of its 2017/18 business year, the rise in orders and comments on easing pressure on its prices sent its shares on the stock market higher. Siemens Gamesa, which is the world’s second largest producer of wind turbines, struck an upbeat tone for both on- and offshore demand due to the global energy transition. “One factor driving this growth is wind's competitiveness, as it has actually underbid conventional fossil fuels in some recent auctions,” the company said.

Find the Siemens Gamesa press release here and the Reuters report here.

Read the CLEW dossier on the pressures the Energiewende’s booming flagship industry faces stormy times.