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Wind-energy companies losing to cheap natural gas, lack of subsidies
Wind farm developers, including FPL Group Inc.'s NextEra Energy, the largest U.S. wind-power producer, and AES Corp., based in Arlington, Va., have slowed investments in domestic wind energy.
AES has directed most of its planned wind turbine installations overseas, said Ned Hall, president of the wind generation unit.
"Eighty percent of our development budget is outside the U.S.," Hall said at the conference.
June 1, 2010
by Christopher Martin
in Bloomberg News Service
Vestas Wind Systems A/S, Siemens AG and Suzlon Energy Ltd. may end up with underused U.S. factories as cheap natural gas and a lack of federal support reduce wind turbine deliveries this year by as much as 50 percent.
Vestas, the world's largest maker of wind turbines, is spending $1 billion to expand annual production capacity in Colorado to 3,000 megawatts and hire 2,000 workers to sell and build turbines. Siemens plans to open a parts factory in Kansas this year, and already manufactures blades in Iowa.
They're betting that the U.S. will pass a law that requires utilities in every state... [continue via Web link]
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