Profits from renewables fell to €68m, in the three months ended 30 June 2011, from €122m in the same period last year, while revenues rose €24m to €975m. New orders fell some 30% to €1.5bn.

But according to latest figures ffrom the European Wind Energy Association, Siemens has taken a virtual stranglehold on the offshore wind turbine market, accounting for every generator installed except those at Bard Offshore 1, in the first half of 2011 - and Siemens recent won a $1bn turbine order from an Iberdrola-Dong Energy consortium.