Wind turbine market in state of flux, says Siemens chief

Siemens' CEO says a major shake-up of the turbine sector is looming

Siemens chief executive Peter Löscher admits it is impossible to call how things will turn out in the global wind-turbine market in the coming months – but predicts a major shake-up of the sector.

“Margins are impacted, aggressive pricing is happening, highly-competitive Chinese players are going global, and there are different dynamics in different parts of the world,” Löscher told financial analysts after the German group’s latest financial results.

Löscher adds that the question of whether the US production tax credit (PTC) for wind power will be continued means that “there are no clear-cut answers”.

But Löscher predicts: “Consolidation will and happen and we will see who will pick up which company.”

He adds that Siemens is focused on trying to execute its aims of achieving…

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