Areva flags RE market 'indecision'

Iberdrola using Areva offshore turbines

Areva offshore turbines

French power equipment giant Areva said sales at its renewable energy unit are running behind forecast due to market “indecisiveness”.

Areva’s Renewable Energy Business Group posted revenue of 292m ($403.5m) for the first nine months of 2013.

That represented a drop of 26.6% on the same period last year, when it pulled in 398m.

Areva CEO Luc Oursel said: “In the Renewable Energies BG, revenue is below our Action 2016 plan outlook, mainly due to the current indecisiveness in the renewable markets.”

Offshore wind revenue was down year-on-year as the Global Tech 1 and Borkum West 2 projects both entered the turbine installation phase.

Areva also saw a drop in its Log in to read complete article.

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