Siemens Energy AG (DE:ENR) has told customers it plans to produce its biggest wind turbine, potentially toward the end of the decade, as the company seeks to maintain its lead in one of the fastest-growing energy sectors.
China’s wind turbine manufacturers dominated global supply last year, riding the nation’s renewables installation boom as a contraction in the US and meager growth in Europe dented overseas competitors.
The biggest manufacturers of wind turbines and solar panels are facing their most serious financial challenges in years even as deployments of clean energy head for an annual record.
Xinjiang Goldwind Science & Technology Co., the largest wind-turbine maker, said profit plunged as a price war continues to offset some of the benefits of China’s surge in clean energy investment.
Siemens and Spain's Gamesa have agreed to combine their wind-turbine manufacturing businesses, creating a company with the biggest installed capacity worldwide in a move that speeds consolidation of the industry.
