EU Must Choose Between Cheaper Power or Protecting Wind Industry
Wind turbines beyond the Prenzlauer Berg and Weissensee districts in Berlin.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Europe will have to decide whether it wants to reduce electricity prices or protect its wind-turbine manufacturers from low-cost Chinese competitors, said the boss of TotalEnergies SE.
Chinese companies such as Goldwind Science and Technology Co. Ltd. can offer turbines about 35% cheaper than their European competitors, said TotalEnergies Chief Executive Officer Patrick Pouyanne. Such savings could benefit an industry that’s struggling with cost inflation, but potentially undermine the region’s own renewables manufacturing industry.