Wind power giants give bleak view of 2024 as challenges persist

The world's three biggest wind power groups on Wednesday gave a sober view of the year ahead, citing ongoing challenges in the maturing sector that continues to suffer from project delays, equipment issues and inflation. Siemens Energy, the world's largest maker of offshore wind turbines, expects a 2024 loss before special items of around 2 billion euros ($2.15 billion) at its troubled wind division Siemens Gamesa, where quality problems at some onshore models have caused a major crisis. Rising prices for components and regulatory delays have caused writedowns and losses across the industry despite robust demand for renewable technology.