Wind groups fall back from giddy heights. Wind groups fall back from giddy heights. Market leaders Vestas, Orsted and Siemens Gamesa suffer tough start to year after stellar 2020. A challenging quarter for the world’s largest wind companies made a few renewable energy lovers shine amid increased sales in clean energy shares. Many have suffered stock dips in the past two weeks after bad news on first-quarter earnings such as unexpected cable damage for Orsted, profits missed by Vestas, and guidance from Siemens Gamesa’s declining earnings. Wind and solar companies were among the best stock market performers last year, challenging the epidemic turmoil in the wider energy market, partly thanks to the government’s climate commitments and massive inflows to new clean energy exchange mutual funds. Observers say the industry has normalized after last year’s high increases.
FT 10th May 2021 read more »