Macquarie CEO Says Wind Industry Still ‘Viable’ After Major Selloff
- Investors in renewables have suffered deep losses this year
- Wikramanayake says IRA is being held up by permitting delays
Shemara Wikramanayake in Singapore, on Nov. 10.
Photographer: Lionel Ng/BloombergThis article is for subscribers only.
The embattled wind industry remains economically viable even as higher costs and tougher markets drag down the world’s largest renewable energy companies, according to the chief executive of Macquarie Group Ltd.
The industry has “cracked the code on bringing the cost down to be competitive with alternatives,” CEO Shemara Wikramanayake said on Friday at the Bloomberg New Economy Forum in Singapore. “We’re having a little bit of a retracing in places where we have cracked the code, but not to the point where it’s not viable.”