Wind power makers suffer huge losses, want to abandon major project – IOTW Report

Wind power makers suffer huge losses, want to abandon major project

American Thinker:
By Thomas Lifson

The greenies’ dream of “clean” (except for millions of dead birds) energy from wind farms is dying in the face of the poor economics (even with tax subsidies) and unreliable technology. The big players in constructing wind turbines are facing massive losses and write-downs and cancelling big offshore wind projects.  Brace yourself for demands for even more subsides to the failing industry.

The green energy subsidiary of German electrical equipment giant Siemens just reported Thursday that it lost nearly a billion dollars in the last quarter. Via Fox News (Hat tip: Beege Welborn, Hot Air):

Global green energy company Siemens Gamesa reported Thursday that it had lost a staggering $967 million during the three-month period from between October to December.

The Germany-based company, which dubs itself as “the global leader in offshore power generation,” noted the wind industry has faced various unfavorable pressures leading to negative growth in recent months and years, in its earnings report for the first quarter of fiscal year 2023 released Thursday morning. The company added that governments would need to further assist the industry to ensure future positive growth. MORE

21 Comments on Wind power makers suffer huge losses, want to abandon major project

  1. Wind turbines are sight pollution. It is ironic and disgusting that people who claim to love the environment have no problem industrializing rural America. And when all is said and done, it’s not even a great technology for producing a sustainable source of energy.

  2. Maybe you could convert your wind power stocks over to Solyndra stocks, Hurry, the yield is likely going down

  3. Since energy can neither be created or destroyed only a change in its form, the energy stolen from wind has effects not obviously realized. What happens climatologically to a region when average winds are decreased? What happens to soils? What happens to higher winds aloft and cloud formations? The effect is not null.

  4. There are other undesirable side effects besides dead & chopped up birds.
    I’ve read something to the effect that the ground at the base of the towers gets warmer then normal. Hmmmm…..
    And there are the (subsonic?) vibrations that are felt around the wind farm towers.
    I’m not sure that I’ve read any further “studies” on the negative effects of these two abnormalities. But then again, I’m not sure that IF any were ever done, they weren’t buried so as to not upset the Greeniacs.

  5. None of the green energy, is green. It’s about $$$. Remember carbon credits? If a company expelled mass amount of CO2, rather than fix it, they could buy a forest. No reduction in CO2.
    Huge amounts of forest are being clear cut to make wood pellets to ship to the UK. How is that green energy?
    Ethanol costs more to produce than it is worth. But high gas prices and subsidies, make it look good. Cargill and ADM make huge profits and pay congress to keep up the subsidies. They lobbied congress to put a tariff on sugar to make their high fructose corn syrup marketable.

  6. I’ve always wondered what the limit would be for windmills (and could mankind get to that limit) before you remove enough energy from the atmosphere for noticeable side effects to occur. The law of unintended consequences is always lurking around the corner.

  7. James Delingpole has been calling them bat-chomping, bird-slicing eco-crucifixes for years, and for years, he’s been right on the money.

  8. …sooo, who pays to remove these eyesore, toxic waste fire and collapse hazards once it’s no longer possible to maintain the lie and the shell companies that enriched their politically connected owners declare bankruptcy?

    I bet I know who pays.

    I bet we ALL do.

  9. No worries – our elected officials (who likely are heavily invested in ‘green’ energy) will make sure more and more wind, bird and whale reduction devices are erected all over the world.

    If only these idiots would realize that Co2 is core to life on planet Earth.

  10. We have a project here in CT between Eversource and Oersted. The project’s cost to build the pier for assembly of the turbines has gone up from 97 mil to 270 mil and now they are asking for more. Mind you, this is just for the pier construction.

  11. @ Wild Bill

    Since at least the early 1970’s I’ve been hearing about how the oil is going to run out. It shouldn’t be too long before we have to limit windmill construction, in order to conserve wind. And what if solar panels soak up all sunlight? Obviously we need to seriously consider conserving sunlight also.

  12. @ mod

    I was thinking along the lines of the conservation of energy, that energy is neither created or destroyed but only changes from one state to another. If windmills are generating terawatts of electricity, that energy is coming from somewhere. Will it be missed?

  13. @ Wild Bill

    I was being sarcastic. AKA green thinking! The energy won’t be missed until the greenies are crying about the lack of hurricanes.


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