Business | Awaiting a second wind

The wind-turbine industry should be booming. Why isn’t it?

Stiff competition has combined with rising costs and other burdens

A Vestas service team inspects a 295 feet tall turbine.Credit: Redux / eyevineFor further information please contact eyevinetel: +44 (0) 20 8709 8709e-mail: info@eyevine.comwww.eyevine.com *** Local Caption *** 15289226 — Image: Eyevine

May 18th 2023|BERLIN

Given the political weather, Western makers of wind turbines should be flying high. America’s Inflation Reduction Act is stuffed with goodies for all sorts of renewable energy. In late April European leaders pledged to increase the North Sea’s offshore-wind capacity to 300 gigawatts by 2050, from about five gigawatts today and double a previous commitment. That looks like an awful lot of future business for turbine manufacturers. If only shorter-term forecasts were as clement.

This article appeared in the Business section of the print edition under the headline “Awaiting a second wind”