EU’s Wind Sector Needs Higher Prices to Thrive, Eurelectric Says
- Current situation isn’t sustainable, according to lobby group
- Industry faces high financing costs, international competition
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Power prices in the European Union need to rise in order for the region’s beleaguered wind-energy sector to recover, according to the head of electricity industry group Eurelectric.
Wind companies like Siemens Energy AG and Orsted AS have been battling issues including inflation, higher financing costs and supply-chain bottlenecks, putting projects at risk. All of the region’s largest turbine manufacturers reported significant losses in 2022.