Library filed under General from Germany
Nordex said that while sales in Germany were expected to slump by nearly two thirds this year, volumes would recover from 2020, with traders citing this positive mid-term outlook.
Germany’s would-be coalition partners have agreed to drop plans to lower carbon dioxide emissions by 40 percent from 1990 levels by 2020, sources familiar with negotiations said on Monday -- a potential embarrassment for Chancellor Angela Merkel.
The risk that German onshore wind could collapse over the next three to four years, endangering the aim to achieve 40-45% of gross electricity consumption from renewables by 2025, prompted the BNA to trigger a rescue clause in the 2017 renewable energy act.
Policymakers governing wind power generation have moved away from a regime based on subsidies to one of tenders, favouring project developers that can make low bids, which in turn puts massive pressure on equipment makers.
German engineering company Siemens (SIEGn.DE) reported a worse than expected 10 percent drop in quarterly industrial profit and signaled a tough year ahead as it restructures its turbine and wind power businesses.
Siemens Gamesa (SGREN.MC) said on Monday it plans to cut as many as 6,000 jobs worldwide as it braces for sales to plunge by as much as a fifth next year. The job cut would amount to more than 20 percent of the company’s total workforce of around 26,000.
The Nordex Group has adopted a cost-cutting programme to respond to the continuing decline in demand and the sharp change in market conditions in its core market Germany as well as in other European countries, as already announced before.
The citizens-energy projects – which took 96% of the capacity available in the tender, Germany’s first onshore round under a competitive process – do not need permits and have 54 months to build their wind farm, rather than the two years that is standard in the market, Nordex said. ...“Manufacturers that do not have any business outside Germany have now been largely left high and dry."
Representatives of the wind power sector have complained of a lack of acceptance for this form of energy production in Thuringia. The four dialogue forums, organized by the state government in 2016, were too little to reduce reservations about projects, said Michael Heinrich of plant engineer Enercon on Monday at a meeting in Gotha. Any known planning for a wind farm results in a citizens' initiative being formed.
Project delays, margin pressure, adjusted forecast: Although the business of the wind turbine builder Nordex is still running well, investors and experts are increasingly doubting the medium-term targets. This is also due to Donald Trump. DUSSELDORF - From the perspective of Nordex boss Lars Bondo Krogsgaard everything is going "as planned". Sales are increasing, profit are up and the annual goals of the Hamburg wind power group are still "readily in reach", said the native Dane on Thursday with the submission of the quarterly figures. But the investors of Germany's third-largest producer of wind turbines are far less optimistic than Krogsgaard.
The Supreme Court of Bavaria has upheld a controversial state wind distance rule that has already drastically reduced the number of permits for new wind farms in Germany's biggest state. ...In late 2014, the state government enacted legislation stipulating that wind parks need to be built at a minimum distance to the nearest housing of ten times the turbine height (measured from the tower base to the tip of the blade).
The US owners of Senvion are dropping plans for what would have been Europe’s biggest initial public offering this year, as their German wind-turbine-maker faces market turmoil.
This is the second consecutive quarter that revenue at Siemens' wind business has fallen. In November, the group reported an 8% fall to €1.5 billion from €1.6 billion, which the company put down to a fall in its onshore wind business.
Germany's largest power supplier has said it will sell majority stakes in two US wind farms in Texas and Indiana. The move is meant to help whittle down Eon's current debt levels of tens of billions of euros.
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.
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.
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.
Weather-driven surges of German solar and wind power may lead to higher costs for Austria as its grid is forced to take measures to avoid breaking down, a Austrian energy regulator said, calling for a region-wide solution to excess flows. Austria already must deal with a constant unwanted supply of 2,000 megawatts of power from northern Germany that flows into its grid via Poland and the Czech Republic.
Consumer groups accused Prokon of attracting investors with promises of potential returns of at least 6 percent a year without giving sufficient warning of the risks. Its insolvency deals a blow to thousands of retail investors who had hoped to profit from Germany's shift from nuclear to renewable energy sources such as wind and solar.
In an attempt to control the decline, the EU put a protective tax on on imported panels last summer. This saw lots of Chinese companies raising their costs, but it does not seem to have had much of an effect on homegrown production.