Wind Power Sector , Facing 'Inflection Point' , After Grim Earnings Outlook.<br />NBC reports that many renewable energy <br />firms are faced with struggling supply lines, <br />manufacturing failures and rising costs. .<br />Manufacturers have struggled to meet growing global <br />demand, which has increased production costs and <br />raised questions regarding economic sustainability.<br />Wind turbine subsidiary Siemens Gamesa saw <br />manufacturing faults emerge as the company <br />raced to increase the scale and pace of production.<br />Wind turbine subsidiary Siemens Gamesa saw <br />manufacturing faults emerge as the company <br />raced to increase the scale and pace of production.<br />Due to the higher costs that specialist wind energy firms <br />face, governments have been forced to provide larger <br />subsidies in order to restore balance to the market.<br />Consequently, many wind energy <br />stocks have fallen sharply in 2023. .<br />According to an Allianz Research report, the world's <br />eight largest renewable energy firms saw a combined <br />$3 billion decrease in assets in the first half of 2023.<br />The whole sector is grappling <br />with rising construction and <br />financing costs, quality-control <br />problems and supply-chain issues, Allianz Research economists, via NBC.<br />Inflation and global energy-price <br />fluctuations have also led to <br />increased costs for wind-power <br />projects, casting doubt over <br />the feasibility of many ventures, Allianz Research economists, via NBC.<br />Vestas CEO Henrik Anderson suggests that the <br />renewable energy sector has reached an inflection point <br />from which "winners and losers" will emerge over time.<br />We are very disciplined, <br />we work with our customers <br />and partners can rely on us, <br />and governments can rely on us. , Henrik Anderson, Vestas CEO, via NBC.<br />That, I hope, creates the strong <br />foundation for being one <br />of the winners in the industry, Henrik Anderson, Vestas CEO, via NBC
