Vestas and Ørsted criticise convoluted planning process despite rhetoric on climate change and energy security
A new subsidies package for renewable energy about to be passed by the US is “extraordinarily important” and should help improve the outlook for the under-pressure wind industry, according to the chief executive of one of the world’s largest turbine manufacturers. Henrik Andersen, chief executive of Danish wind turbine manufacturer Vestas, said that concern over whether the US could end its production tax credits (PTC) had led to “stop and go” conditions for the renewable industry in the past year, but a new climate bill should halt those worries. The US Senate passed Joe Biden’s flagship economic package, which includes support for renewable energy technologies, last Sunday.
(Bloomberg) -- The world’s addiction to fossil fuels, the race for renewables and the costly impact of climate change will all be in focus in this week’s raft of corporate earnings. Attention will be on Munich Re on Tuesday after smaller reinsurer Hannover Re this week stuck by its profit target. Wind turbine maker Vestas will be in focus on Wednesday after Siemens Gamesa cut guidance again on surging commodity costs and supply chain disruption. And, following a series of estimate-busting profit