April 24 (Bloomberg) -- German windmill makers such as Nordex SE are suffering a similar fate to solar companies as Chinese firms push into the market, Financial Times Deutschland said, citing Manfred Bayerlein, chief executive officer of wind power certification company TUEV Rheinland.
While China’s technology is a few years behind, their products are already economical, Bayerlein said, according to the German newspaper. Chinese companies entering the market has contributed to a 25 percent drop in prices since 2008, FTD said.
German solar companies such as Solon SE, Solar Millennium AG and Q-Cells SE have filed for insolvency, while China has built up an industry with more than 400 companies, some of which are market leaders, FTD said.
To contact the reporter on this story: Sheenagh Matthews in Frankfurt at firstname.lastname@example.org
To contact the editor responsible for this story: Benedikt Kammel at email@example.com