Gamesa chief predicts cull of weakest turbine-producers

Calvet says that the market is already seeing some companies vanish

Consolidation of the wind turbine sector is likely to take place through companies being forced out of the market because they lack the strength to face today’s tough conditions, says Gamesa chief executive Jorge Calvet.

“I do not think we are going to see a consolidation process as in other industries through an M&A (mergers and acquisitions) process,” says Calvet, speaking during a Q&A with financial analysts following publication of the Spanish wind group's latest results.

“I think we are going to see consolidation through the exiting of players because they will not have the financial strength to make the investments in R&D and other things that they need to do.”

Calvet says that the market is “already seeing” the disappearance of some companies, adding: “If…

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