Library from Germany
Chief Executive Joe Kaeser said he was now determined to get on top of operational problems that keep cropping up in Siemens' businesses, most recently in wind turbines where problems with blades and bearings caused a 223 million-euro ($279 million) charge in the fourth quarter.
The former executives are accused, among other charges, of using their positions at the company to make private side-deals in the wind turbine business, which is in direct violation of Vestas's corporate policy and Danish and German law.
Trianel’s 200MW Borkum West 2 offshore wind project in Germany has been hit by further delays and will have to wait until 2015 to export full power.
Germany as a whole was a huge country which was doing very well, especially in the auto sector, said Henri Proglio, EDF’s chairman and chief executive. “But when it comes to energy they are in a disaster,” he told reporters in London. “The two major companies, Eon and RWE are under huge pressure. One is more or less dead, the other is in a very difficult situation.”
France's economy may be doing badly but Germany's energy sector is a "disaster", the head of French state-owned energy company EDF has said. Henri Proglio, EDF chief executive, acknowledged his country was "in a poor situation" and "under pressure".
Ordinary Germans foot the bill for these market distortions, having ponied up an estimated €100 billion ($129 billion) extra on their electricity bills since 2000 to fund the renewable drive. The government estimates this revolution could cost a total of €1 trillion by 2040.
Germany’s flagship Bard 1 offshore wind farm has been described as “a faulty total system” as technical problems continue to plague the project, casting major doubts on the feasibility of large scale offshore projects.
"Germany's current path of increasingly high-cost energy will make the country less competitive in the world economy, penalize Germany in terms of jobs and industrial investment, and impose a significant cost on the overall economy and household income," warned Daniel Yergin, vice chairman of research firm IHS.
In reality, economists and some government officials acknowledge, there are deeper reasons for the recent downturn. ...They start at home, where Chancellor Angela Merkel's abrupt exit from nuclear energy after the Fukushima disaster in Japan and aggressive push into renewables has unnerved German industry. A recent overhaul of the country's complex renewable energy law has done little to alleviate uncertainty over future policy or assuage fears about German energy competitiveness.
In this recent study, researchers present a comprehensive study on the breeding provenance of endangered and protected noctule bats killed at German wind turbines, showing that individuals from local and distant populations are among the recorded fatalities. The results provide a first step on the way towards an evaluation on how bat fatalities at wind turbines might impact local and regional populations in migratory bat species. The abstract of the paper is provided below. The full paper can be accessed by clicking the link(s) on this page.
Vattenfall AB is about to build a 11 billion-kronor ($1.6 billion) wind farm in the German North Sea to beat Chancellor Angela Merkel’s planned changes to subsidies.
German developers plan to install 60 wind turbines, each 700-foot tall, in one of Central Europe’s last remaining untouched regions, the Palantinate Forest, a UN designated natural monument.
New German onshore wind installations surged during the first half of 2014 and may reach a record for the full year, as developers race to complete wind farms before a 2.5GW annual cap starts in 2015 and some states impose spacing restrictions.
Twenty power companies including Germany’s biggest utilities, EON SE and RWE AG, now get fees for pledging to add or cut electricity within seconds to keep the power system stable, double the number in September, according to data from the nation’s four grid operators. Utilities that sign up to the 800 million-euro ($1.1 billion) balancing market can be paid as much as 400 times wholesale electricity prices, the data show.
Generous subsidies for renewables are unsustainable and have contributed to electricity prices for residential consumers more than doubling in Germany, placing a strain on consumers and the economy there.
Under plans submitted by E.U. member states, as much as 43.3 gigawatts of offshore wind capacity is supposed to be deployed by 2020. But the pace of installation is falling well behind this ambitious target
Prysmian has revealed that a vessel carrying the cables for two German offshore wind farms has capsized off the coast of Sardinia, losing its cargo.
Renewable energy project developer, juwi group has announced a major cost cutting and restructuring programme with the expected loss of around 400 jobs, or around 27% of the total workforce.
This important paper prepared for the benefit of the Edison Electric Institute (EEI) and Finadvice’s European clients examine the risks and failures of Germany's national plan to rely on renewable energy. Portions of the executive summary and conclusions are provided below. The full paper can be accessed by clicking the links on this page.
The decision came as a surprise to many as it did not follow an earlier recommendation of the ECJ's Advocate General who believed a clause in the EU's renewable energy directive contravened treaty rules on the free movement of goods across the 28-member bloc.