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Siemens buckles down for offshore amid tariff fears

The wind sector had all eyes on its turbine manufacturers this week, with both Siemens Gamesa and Vestas making quarterly announcements to signal the state of the sector in the early days of the 2020s. While Vestas continues business as usual, Siemens Gamesa appears to be much busier in battening down the hatches for an offshore wind boom in the coming years. What was clear from both companies was that filling order books won’t be a problem, but growth in production capacity for offshore wind may have to be facilitated from external investment or restructuring, as margins for turbine-making are continuously squeezed by uncertainties around tariffs and subsidies. In Vestas’ 2019 annual report, the company boasted a record order intake…

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