Offshore wind turbine makers are facing tougher competition and pricing pressure, the head of the sector’s biggest company has warned. Offshore wind turbine makers face stiffer competition and pricing pressure, the head of the industry’s largest company has warned. Andreas Nauen, managing director of Siemens Gamesa, said the high amounts recently submitted for offshore wind development rights “would increase the pressure on us to deliver more competitive turbines.” Nauen took over as CEO last June, with a mandate to execute a turnaround strategy at Siemens Gamesa, which experienced significant losses and declining revenues in calendar year 2020. As new multibillion-dollar contracts fly in offshore wind projects in Europe and the United States, turbine makers are squeezed by high input costs and high steel prices. ‘on one side, and pressure from developers who want cheaper turbines on the other.
FT 16th March 2021 read more »