Vestas taps Siemens Gamesa veteran to lead nacelle manufacturing
Vestas has hired a Siemens Gamesa veteran as senior vice president of nacelle manufacturing, after 16 years with the German wind turbine maker.
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"Ørsted's Turbulent Year: Job Cuts, Dividend Suspension, and Offshore Wind Market Exits"
Orsted, Siemens Energy, and Vestas, the world's top wind power developers and turbine makers, are anticipating another challenging year in 2024, following industry-wide difficulties in 2023. Factors contributing to the challenges include cost increases, rising interest rates, turbine quality issues, and project delays. As a result, the companies are suspending dividends and implementing cost-cutting measures to return to profitability. Orsted is also reducing its workforce and exiting certain offshore markets, while Siemens Energy is focusing on resolving quality problems in its onshore wind business.
"Challenges Buffet Wind Power Giants Amid Sector Troubles"
Siemens Energy, Vestas, and Orsted, the world's top wind power companies, are facing challenges including project delays, equipment issues, and inflation. Siemens Energy expects a 2024 loss of around 2 billion euros at its troubled wind division, while Vestas suspended its dividend and Orsted announced job cuts and a portfolio review. Despite robust demand for renewable technology, rising prices for raw materials and regulatory delays have impacted the wind industry, prompting the need for a reset in offshore wind market conditions to restore profitability.