The wind power industry is having to reinvent key elements of its business approach for an era of high inflation, said the CEO of turbine giant Siemens Gamesa as he outlined a litany of challenges facing the manufacturer.

Jochen Eickholt told financial analysts that cost increases across the board were forcing the company and its customers to look again at existing and new contracts, contributing to delays that hit orders in Siemens Gamesa’s financial second quarter.

“There is an increasing awareness of the effect of inflation on the part of our customers,” said Eickholt, speaking as the OEM placed its latest financial guidance under review.