New Energy
Europe’s Battered Wind Sector Starts to Find Hope In Year of Crisis
Huge writedowns and losses have shaken the industry
The offshore wind industry is looking to bounce back from a rough year.
Photographer: Carsten Snejbjerg/BloombergThis article is for subscribers only.
The crisis engulfing Europe’s wind industry is proving to be a wake-up call: things have to change radically to make progress on what’s a key part of the climate transition.
A flood of negative headlines have dominated recently, the fallout from soaring raw-material prices, higher borrowing costs and long-running supply-chain issues. As those ripped through the industry, causing project failures, multi-billion dollar writedowns and disastrous wind farm auctions, it all looked increasingly bleak.