More melt down in wind ‘industry’ as global giant Vestas hits serious debt burden
Serious investors in a serious industry are there for the long haul. These are fly-by-night carpetbaggers, grabbing and running in an ‘industry' thrashed into existence simply because the subsidies were there; and governments were desperate to achieve carbon emission targets.
Now, in harder economic times ...both available subsidies and potential demand are shrinking.
July 2, 2012
Kintyre has, of course, seen it all before with Vestas decamping and Skykon failing, both at the turbine tower manufacturing plant at Machrihanish.
Scotland at large has seen a deal with Korea's Doosan to build a research facility and factory in Renfrew dropped in December 2011. This was followed by the recent news that another major player in the wind renewables business, Spain's Gamesa, lured here by subsidy (as are they all), was laying staff off instead of building up its base.
Back only in March this year, Gamesa left Tyneside in the lurch and chased a better subsidy to Scotland, with... [continue via Web link]