European wind seems to be facing a tough time: Siemens Gamesa and Vestas have reported quarterly losses, Vatenfall has stopped a wind farm development, and Oersted has now expressed concerns over financial feasibility of projects in the UK. Surging costs, supply chain bottlenecks, and approval delays are issues.
Looks like dejavu – transition with what happened to the solar industry – innovated in Europe or the US and then scaled by China, except much has changed in geopolitics. Without the viability of these players, the energy transition in the western world will be severely impaired. Strategy is more critical than before, and execution will require robust systemic thinking across the value chain to optimize on costs and delivery performance.
