Europe Failing on Renewables as Cost Fears Bite, Vestas CEO Says
- Clean energy developers in EU should be ‘building like crazy’
- Vestas has raised turbine prices but is losing money: Andersen
Wind turbines, manufactured by Vestas Wind Systems, in a field near Lem, Denmark.
Photographer: Freya Ingrid MoralesThis article is for subscribers only.
Europe is failing on its renewable energy plan as the cost of development soars, according to the world’s biggest wind-turbine maker.
Clean energy developers should be “building like crazy” to meet European Union renewable-capacity targets, Vestas Wind Systems A/S Chief Executive Officer Henrik Andersen said in an interview. Power prices are so high right now that steep construction costs should not stymie projects, he said.