Wind Turbine Woes: Siemens Energy and Gamesa Face Severe Problems.

Siemens Gamesa Renewable Energy has discovered that its wind turbine fleet has much bigger problems than it thought, which could take years to fix. The company's Spanish division found that its onshore wind turbines had worse-than-expected quality flaws, and it will have to fix flaws in rotor blades and bearings, ranging from component failures to small cracks. As a result, Siemens Gamesa has scrapped its annual profit guidance and warned that additional costs to rectify its problems could be more than $1.1 billion.