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Chris Bryant

A Renewable Energy Bubble Is Hit By the Perfect Storm

The wind industry still looks like a long-term winner, but it’s more vulnerable to supply-chain issues than investors appreciated.

Storm’s brewing.

Storm’s brewing.

Photographer: PASCAL GUYOT/AFP

Good luck finding an industry hit as hard by inflation and supply-chain upheaval as wind-turbine makers.

Manufacturers like Vestas Wind Systems A/S have been blown off course by a perfect storm of transport snarl-ups and surging freight and raw material costs. Instead of raking in profits on soaring demand for clean energy, the Danish firm is struggling just to break even. Last week, loss-making European rival Siemens Gamesa Renewable Energy S.A ousted its chief executive officer — its second change at the top in less than two years. General Electric Co.’s renewables arm is also losing money.