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Europe's Wind Energy Giants Brace For Massive Losses And Writedowns

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wind energy giants rsted A/S and Siemens Energy are facing billions of euros in losses and writedowns as their wind energy businesses continue to deteriorate

The malaise spreading through the renewable energy industry that started in late October when we reported that shares of Israel-based SolarEdge Technologies Inc. NASDAQSEDG suffered their biggest crash in the company’s public history has now spread to the European wind energy sector, too.

Meanwhile, shares of Ørsted’s German peer Siemens Energy have jumped nearly 13% in Wednesday’s intraday trading after supervisory board chairman Joe Kaeser said the company does not need a taxpayer-funded bailout from the German government, and that it seeks guarantees rather than a cash injection.

 

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