{"id":267610,"date":"2023-07-15T14:17:25","date_gmt":"2023-07-15T12:17:25","guid":{"rendered":"https:\/\/climatescience.press\/?p=267610"},"modified":"2023-07-15T14:17:28","modified_gmt":"2023-07-15T12:17:28","slug":"crash-test-dummies-wind-turbine-maker-siemens-suffers-massive-share-price-slump","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=267610","title":{"rendered":"Crash Test Dummies: Wind Turbine Maker Siemens Suffers Massive Share Price\u00a0Slump"},"content":{"rendered":"\n
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From STOP THESE THINGS<\/a><\/p>\n\n\n\n

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150 Windturbinen mit einer Leistung von je 4 Megawatt wird Siemens f\u00fcr das niederl\u00e4ndische Windkraftwerk Gemini in der Nordsee liefern.\r\rSiemens will deliver 150 wind turbines with a capacity of 4 megawatts each for the Dutch offshore wind power plant Gemini in the North Sea.<\/figcaption><\/figure>\n\n\n\n

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The world\u2019s wind turbine makers are bleeding cash; none of them are capable of turning a profit and all of them are facing financial ruin.<\/p>\n\n\n\n

General Electric\u2019s renewables business blew a cool $2.2bn of shareholder value in 2022.<\/p>\n\n\n\n

Siemens Gamesa has\u00a0axed hundreds of jobs in Europe and America<\/a>. Vestas, Nordex and Enercon are also facing financial ruin, and for all the same reasons.<\/p>\n\n\n\n

In this piece, Gordon Hughes focuses on Siemens Energy, which thanks to a perfect storm of collapsing subsidies and a thoroughly defective product has seen its share price slaughtered, with further details of the carnage in the pieces that follow.<\/p>\n\n\n\n

Wind costs will remain high<\/strong>
Net Zero Watch
Gordon Hughes
26 June 2023<\/p>\n\n\n\n

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The crash in Siemens Energy\u2019s share price on Friday has admirably highlighted an issue with wind costs that colleagues and I have been examining for more than a decade. The painful facts are that (i) wind generation, both onshore and offshore, is more expensive than we are being told and (ii) the performance of wind turbines tends to deteriorate with age, in significant part because of the kind of failures reported by Siemens Energy. There is strong evidence to support these conclusions, which has been presented in reports published by the Renewable Energy Foundation in\u00a02012<\/a>\u00a0and in 2020 for the\u00a0UK<\/a>\u00a0and\u00a0Denmark<\/a>, with updates provided by the\u00a0Global Warming Policy Foundation<\/a>\u00a0and\u00a0Net Zero Watch<\/a>.<\/p>\n\n\n\n

The news about Siemens Energy brings a strong inclination to say \u2018you were warned\u2019. However, their travails are a symptom of a much more widespread disease, which affects all of us, either directly through the costs of electricity or indirectly as the owners of wind farms (via pension funds and other investment vehicles). The plunge in the share price of Siemens Energy is dramatic, but that may be written off as a temporary market response to disappointed expectations. We need to look beneath the immediate story to understand the reasons for the disappointment and their implications for the prospects for wind generation.<\/p>\n\n\n\n

The announcement by Siemens Energy focused on higher-than-expected failure rates for their onshore turbines. These were ascribed to problems with key components, but newspaper reports suggest more systematic design faults in recent generations of large turbines. Previous announcements have referred to problems with offshore turbines, and the market reaction suggests few believe that the current problems are confined to onshore turbines. Further, while each of the major turbine manufacturers has its own specific problems, Siemens Energy is not unique in experiencing high warranty costs due to higher than anticipated failure rates.<\/p>\n\n\n\n

In increasing order of importance, there are three aspects to note:<\/p>\n\n\n\n

(a) Siemens Energy and other manufacturers have given warranties on performance that won\u2019t be met because of higher failure rates. They will incur additional expenses, either to replace components or to compensate wind farm operators for any resulting underperformance. Those costs are the basis for the write-offs that Siemens Energy has had to take. Investors will be painfully aware that the company has been declaring profits when they sell wind turbines, but without making adequate provision for future warranty repair costs.<\/p>\n\n\n\n

In accounting terms this is known as recognising future profits for new contracts. When it becomes clear that the contracts will be less profitable, the company must write down the value of previously reported profits and, thus, the value of the assets on its balance sheet. In effect, though perhaps entirely innocently, the company has been misleading investors about its past and current profitability. Senior managers should be feeling very uncomfortable about their positions since the problem was predictable (and predicted).<\/p>\n\n\n\n

(b) Warranties have a limited period \u2013 often 5 to 8 years \u2013 but the higher failure rates will persist and affect performance over the remainder of the life of the wind farms where the turbines have been installed. Their future opex costs will be higher than expected, and their output will be significantly lower. This will reduce their operational lifetimes, which are determined by how the margin between revenues and costs changes as wind farms get older. Lower revenues and higher costs bring forward the date at which replacement or repowering is necessary. These changes will reduce, often quite substantially, the returns earned by the financial investors \u2013 pension funds and other \u2013 to whom operators sell the majority of the equity in wind farms after a few years of operation.<\/p>\n\n\n\n

(c) Siemens Energy and other manufacturers may argue that they can \u2013 with time \u2013 fix the component and design problems which lead to high failure rates. They may well be correct. The history of power engineering is littered with examples of new generations of equipment which experienced major problems when first introduced but which were eventually sorted out. Many companies have found themselves in severe financial difficulties or even forced into bankruptcy by these \u201cteething\u201d problems. The error in this case has been to pretend that wind turbines were immune to such failures.<\/p>\n\n\n\n

The whole justification for the falling costs of wind generation rested on the assumption that much bigger turbines would produce more output at lower capex cost per megawatt, without the large costs of generational change. Now we have confirmation that such optimism is entirely unjustified \u2013 the whole development process has been a case of too far, too fast. Again, this was both predictable and predicted. The idea that wind turbines are immune to the factors that affect other types of power engineering was always absurd. The consequence is that both capital and operating costs for wind farms will not fall as rapidly as claimed and may not fall significantly at all. It follows that current energy policies in the UK, Europe and the United States are based on foundations of sand \u2013 na\u00efve optimism reinforced by enthusiastic lobbying divorced from engineering reality.<\/p>\n\n\n\n

In the longer term it is (b) and (c) that are the big story. With respect to (a), serious analysts have\u00a0long since recognised<\/a>\u00a0that claims made about future wind costs and performance by the wind industry should not be taken seriously. It has been obvious that they were kidding themselves and their investors ever since the last 2010s. Unfortunately, we have now been tied into a high energy-cost future, with all the implications that has for the economy and standards of living.
Net Zero Watch<\/strong><\/em><\/a><\/p>\n\n\n\n

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Still Waiting For The Magical Future Of Free Wind Power<\/strong>
Manhattan Contrarian
Francis Menton
26 June 2023<\/p>\n\n\n\n

Wind power: It\u2019s clean. It\u2019s free. It\u2019s renewable. Google the subject, and you will quickly find fifty articles claiming that electricity from wind is now cheaper than electricity from those evil, dirty fossil fuels. So why doesn\u2019t some country somewhere get all of its electricity from wind?<\/p>\n\n\n\n

In fact, despite now several decades of breakneck building of wind turbines, no country seems to be able to get even half of its electricity from wind when averaged over the course of a year, and no country has really even begun to solve the problem of needing full backup when the wind doesn\u2019t blow.<\/p>\n\n\n\n

Germany is the current world champion at trying to get its electricity from wind. (It also gets a small contribution from solar panels, but since it is the world\u2019s cloudiest country, those don\u2019t help much.).\u00a0According to Clean Energy Wire, December 2022<\/a>, in 2020 Germany got 45.2% of its electricity from wind and sun. Then that declined to 41% in 2021, due to lack of wind. In 2022 they appear to have bounced back to 46%. Germany has enough wind turbines that they produce big surpluses of electricity when the wind blows at full strength. But they still haven\u2019t cracked the threshold of meeting 50% of electricity demand with wind and sun over the course of a year.<\/p>\n\n\n\n

It\u2019s no better over in the territory of co-climate crusader UK. Despite a crash program to build wind turbines (also accompanied by a smidgeon of solar panels), the UK\u2019s percent of power from wind in 2022 was 26.8%, according to the\u00a0BBC on January 6, 2023.<\/a>\u00a0Solar added a paltry 4.4%.<\/p>\n\n\n\n

Well, maybe this project isn\u2019t as easy as the central planners thought it would be. News of the past week brings to light a few more speed bumps on the road to energy utopia.<\/p>\n\n\n\n

At the website\u00a0Not A Lot Of People Know That, Paul Homewood on June 21<\/a>\u00a0presents a calculation for the UK of how much wind turbine capacity would be necessary to supply the country with all its electricity needs by building extra wind capacity and using it to electrolyze water into hydrogen. The calculation was initially prepared by a guy named John Brown, and provided to Paul. For those interested in reviewing the calculation, it is available by emailing Mr. Brown at jbxcagwnz@gmail.com.<\/p>\n\n\n\n

For starters, Homewood notes that average demand in the UK was 29 GW in 2022, and it has 28 GW of wind turbine capacity already. As you can immediately see, the fact that 28 GW of \u201ccapacity\u201d only supplied 26.8% of average demand of 29 GW indicates an average capacity factor of under 30% for the wind turbines. The total demand for the year came to 262 TWh, but the wind turbines only produced 62 TWh.<\/p>\n\n\n\n

Brown then calculates how much wind turbine capacity would be needed to generate enough electricity to supply all of the demand, either directly, or by electrolyzing water to make hydrogen and burning the hydrogen. He comes up with 370 TWh of total production needed from the wind turbines \u2014 262 TWh to supply existing demand, and another 108 TWh for the various losses in the processes of electrolysis and then burning the hydrogen. The 370 TWh is about 6 times the current wind turbine capacity of the UK. Homewood:<\/p>\n\n\n\n

The reason why the total generation needed, 370 TWh, is so much higher than demand is the hopelessly inefficiency of the hydrogen process. John has assumed that electrolysers work at 52% efficiency, and that burning hydrogen in a thermal generator works at 40% efficiency. Both assumptions seem reasonable. In other words, the efficiency rate for the full cycle is 20.8%. In simple terms, you need 5 units of wind power to make 1 unit of power from hydrogen.<\/p>\n\n\n\n

Brown and Homewood do not go into detail on the costs of this project, other than to note that the cost of the wind turbines alone for the UK would be about 1 trillion pounds (or $1.3 trillion). Since the U.S. is more than five times the population, that would mean more than $6.5 trillion for us. And that\u2019s before you get to the cost of building the electrolyzers for the hydrogen, the costs of transporting and storing the stuff, and so forth. Let alone dealing with doubling the demands on the grid by electrifying all home heating, automobiles, transportation, etc. A multiplying of costs of electricity by around a factor of 5 to 10 would be a good rough estimate.<\/p>\n\n\n\n

In other words, this is never going to happen. The only question is how far down the road we get before the plug gets pulled. As I wrote in my energy storage report, the only thing to be said for hydrogen as the means of backup for a decarbonized economy is that it is less stupid than using batteries as the backup.<\/p>\n\n\n\n

And in other news relating to the future utopia of wind power, we have a piece in the Wall Street Journal of June 23 with the headline,\u00a0\u201cClean Energy\u2019s Latest Problem Is Creaky Wind Turbines.\u201d<\/a>\u00a0The first sentence is \u201cThe ill wind blowing for clean-energy windmills just got stronger.\u201d The article reports that shares of German wind turbine giant Siemens Energy fell 36% on Friday after the company withdrew profit guidance for the rest of the year and stated that components of its installed turbines are wearing out much faster than previously anticipated. Thus costs of fulfilling warranties will greatly increase; but also, the expected replacement cycle for the turbines needs to be shortened. The writer (Carol Ryan) comments,<\/p>\n\n\n\n

\u201cThe news isn\u2019t just a blow for the company\u2019s shareholders, but for all investors and policy makers betting on the rapid rollout of renewable power.\u201d<\/p>\n\n\n\n

Barron\u2019s on the same date (June 23) quotes the CEO of Siemens wind turbine subsidiary Siemens Gamesa as follows:<\/p>\n\n\n\n

In a call with reporters, Siemens Gamesa CEO Jochen Eickholt said \u201cthe quality problems go well beyond what had been known hitherto. . . . The result of the current review will be much worse than even what I would have thought possible,\u201d he added.<\/p>\n\n\n\n

And then there\u2019s the comment from parent company CEO Christian Bruch:<\/p>\n\n\n\n

In the call with reporters, Siemens Energy CEO Christian Bruch called the developments \u201cbitter\u201d and \u201ca huge setback.\u201d<\/p>\n\n\n\n

Those are by no means the usual types of words uttered by ever-optimistic public company CEOs.<\/p>\n\n\n\n

In the short run, don\u2019t expect the climate doom cult to walk away from any of their grand plans. The immediate answer will be more, and still more government subsidies to keep the wind power dream alive. But at some point this becomes, as they say, unsustainable.
Manhattan Contrarian<\/strong><\/em><\/a><\/p>\n\n\n\n

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Siemens Energy shares fall amid quality problems at wind turbine business<\/strong>
National News
Reuters
23 June 2023<\/p>\n\n\n\n

Siemens Energy had \u20ac5.8 billion ($6.3 billion) wiped off its market capitalisation on Friday after warning that the impact of quality problems at its Siemens Gamesa wind turbine business would be felt for years.<\/p>\n\n\n\n

The group scrapped its 2023 profit outlook late on Thursday after a review of its wind turbine division exposed deeper-than-expected problems that could cost more than \u20ac1 billion.<\/p>\n\n\n\n

\u201cThis is a disappointing and severe setback,\u201d Jochen Eickholt, chief executive of Siemens Gamesa, told journalists on a call.<\/p>\n\n\n\n

\u201cI have said several times that there is actually nothing visible at Siemens Gamesa that I have not seen elsewhere. But I have to tell you that I would not say that again today.\u201d<\/p>\n\n\n\n

Siemens Energy\u2019s share price plunge on Friday was the biggest since the group, which supplies equipment and services to the power sector, was spun off from Siemens and separately listed in 2020.<\/p>\n\n\n\n

Shares were down 31.5 per cent at 0842 GMT, with traders and analysts pointing out that the extent of the company\u2019s latest problems was still uncertain.<\/p>\n\n\n\n

\u201cEven though it should be clear to everyone, I would like to emphasise again how bitter this is for all of us,\u201d Christian Bruch, chief executive of Siemens Energy, told journalists in a call.<\/p>\n\n\n\n

The company\u2019s finance chief Maria Ferraro earlier told analysts that the majority of the hit would be over the next five years.<\/p>\n\n\n\n

\u201cGiven the history and nature of the wind industry, the profit warning was not a complete surprise, but what surprised us was the magnitude,\u201d analysts at JP Morgan said.<\/p>\n\n\n\n

Siemens aims for more smart building and infrastructure deals in the UAE
Issues at Siemens Gamesa have been a drag on the parent for a long time, prompting Siemens Energy to take full control of the business after only partially owning it for several years.<\/p>\n\n\n\n

The discovery of faulty components at Siemens Gamesa in January had already caused a charge of nearly half a billion euros.<\/p>\n\n\n\n

Mr Eickholt said that while rotor blades and bearings were partly to blame for the turbine problems, it could not be ruled out that design issues also played a role.<\/p>\n\n\n\n

Mr Bruch also blamed the corporate culture at Siemens Gamesa, the result of a merger of the wind turbine division of Siemens and Spain\u2019s Gamesa, saying: \u201cToo much has been swept under the carpet\u201d.<\/p>\n\n\n\n

He said that the setback from the quality problems was \u201cmore severe than I thought possible\u201d. At the same time, he said he did not believe that the full takeover of Siemens Gamesa had been a mistake.<\/p>\n\n\n\n

Mr Bruch said that the company would be able to provide a more accurate estimate of the costs from the latest problems by the time it publishes its third-quarter results on August 7, after a full analysis of the situation.
National News<\/strong><\/em><\/a><\/p>\n\n\n\n

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<\/p>\n","protected":false},"excerpt":{"rendered":"

The world\u2019s wind turbine makers are bleeding cash; none of them are capable of turning a profit and all of them are facing financial ruin.<\/p>\n","protected":false},"author":121246920,"featured_media":267630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691818076,691821093,691821094,691821095,691818154,691820489,691820620],"class_list":["post-267610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-co2","tag-financial-ruin","tag-general-electrics-renewables","tag-high-energy-cost","tag-net-zero","tag-siemens-energy","tag-siemens-gamesa","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/07\/0Screenshot-2020-12-23-at-1.46.47-AM-1536x895-1.png?fit=1536%2C895&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-17Ci","jetpack-related-posts":[{"id":275641,"url":"https:\/\/climatescience.press\/?p=275641","url_meta":{"origin":267610,"position":0},"title":"Siemens Energy\u2019s wind turbine problems could cost 4.5 bln\u00a0euros","author":"uwe.roland.gross","date":"08\/26\/2023","format":false,"excerpt":"So much for \u201ccheap wind power\u201d!","rel":"","context":"In \"Siemens Energy\"","block_context":{"text":"Siemens Energy","link":"https:\/\/climatescience.press\/?tag=siemens-energy"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/0Siemens-Gamesa-will-supply-36-units-of-its-SG-3.4-132-wind-turbine-for-the-Voltalia-wind-project-in-Brazil.jpg?fit=1200%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/0Siemens-Gamesa-will-supply-36-units-of-its-SG-3.4-132-wind-turbine-for-the-Voltalia-wind-project-in-Brazil.jpg?fit=1200%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/0Siemens-Gamesa-will-supply-36-units-of-its-SG-3.4-132-wind-turbine-for-the-Voltalia-wind-project-in-Brazil.jpg?fit=1200%2C600&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/0Siemens-Gamesa-will-supply-36-units-of-its-SG-3.4-132-wind-turbine-for-the-Voltalia-wind-project-in-Brazil.jpg?fit=1200%2C600&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/0Siemens-Gamesa-will-supply-36-units-of-its-SG-3.4-132-wind-turbine-for-the-Voltalia-wind-project-in-Brazil.jpg?fit=1200%2C600&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":263965,"url":"https:\/\/climatescience.press\/?p=263965","url_meta":{"origin":267610,"position":1},"title":"Wind costs will remain high","author":"uwe.roland.gross","date":"06\/26\/2023","format":false,"excerpt":"The crash in Siemens Energy\u2019s share price on Friday has admirably highlighted an issue with wind costs that colleagues and I have been examining for more than a decade. The painful facts are that (i) wind generation, both onshore and offshore, is more expensive than we are being told and\u2026","rel":"","context":"In \"Costs\"","block_context":{"text":"Costs","link":"https:\/\/climatescience.press\/?tag=costs"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/0da001cc0910f209d81601af0beeddd22.jpg?fit=1200%2C601&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":287785,"url":"https:\/\/climatescience.press\/?p=287785","url_meta":{"origin":267610,"position":2},"title":"Germany To Bail Out Siemens\u2019 Struggling Wind Turbine Division","author":"uwe.roland.gross","date":"11\/13\/2023","format":false,"excerpt":"Siemens Energy, facing significant losses, is in talks for up to 15 billion euros in guarantees, with the German state covering 80% of the initial funding. Siemens AG shares have plummeted over 70% since mid-June, with the company abandoning its 2023 profit outlook due to challenges in its wind turbine\u2026","rel":"","context":"In \"\u00d8rsted\"","block_context":{"text":"\u00d8rsted","link":"https:\/\/climatescience.press\/?tag=orsted-2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-369.png?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-369.png?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-369.png?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/image-369.png?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":272313,"url":"https:\/\/climatescience.press\/?p=272313","url_meta":{"origin":267610,"position":3},"title":"How faulty wind turbines threaten to bring down a German industrial\u00a0powerhouse","author":"uwe.roland.gross","date":"08\/09\/2023","format":false,"excerpt":"Siemens warned on Monday that it was facing a \u20ac4.5bn (\u00a33.9bn) loss this year as a result of issues within its wind turbine division.","rel":"","context":"In \"Germany\"","block_context":{"text":"Germany","link":"https:\/\/climatescience.press\/?tag=germany"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/0e8ce098bf480c0d0ca9ca9cbd4af017d.jpg?fit=1200%2C600&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/0e8ce098bf480c0d0ca9ca9cbd4af017d.jpg?fit=1200%2C600&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/0e8ce098bf480c0d0ca9ca9cbd4af017d.jpg?fit=1200%2C600&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/0e8ce098bf480c0d0ca9ca9cbd4af017d.jpg?fit=1200%2C600&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/08\/0e8ce098bf480c0d0ca9ca9cbd4af017d.jpg?fit=1200%2C600&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":287799,"url":"https:\/\/climatescience.press\/?p=287799","url_meta":{"origin":267610,"position":4},"title":"Siemens Cancel Virginia Wind Blade\u00a0Factory","author":"uwe.roland.gross","date":"11\/13\/2023","format":false,"excerpt":"'Development milestones could not be met,' company says. Siemens-Gamesa-to-Double-Hull-Blade-Facility BY\u00a0KATE ANDREWS\u00a0\/\u00a0ROBYN SIDERSKY Amid failing turbine components and financial challenges, Siemens Gamesa Renewable Energy said Friday it has \u201cdiscontinued\u201d its plans to build\u00a0the nation\u2019s first offshore wind-turbine blade manufacturing facility\u00a0at the Port of Virginia\u2019s Portsmouth Marine Terminal. \u201cSiemens Gamesa will continue\u2026","rel":"","context":"In \"$200 million project\"","block_context":{"text":"$200 million project","link":"https:\/\/climatescience.press\/?tag=200-million-project"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/OIG-2023-11-13T120832.243.jpeg?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/OIG-2023-11-13T120832.243.jpeg?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/OIG-2023-11-13T120832.243.jpeg?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/11\/OIG-2023-11-13T120832.243.jpeg?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":333274,"url":"https:\/\/climatescience.press\/?p=333274","url_meta":{"origin":267610,"position":5},"title":"Siemens Sinks: Germany\u2019s Top Wind Turbine Maker Sacks 4,100 Workers\u00a0Overnight","author":"uwe.roland.gross","date":"06\/19\/2024","format":false,"excerpt":"Remember how the wind and solar industries would create hundreds of thousands of highly-paid groovy \u2018green\u2019 jobs? No? Well, as it turns out, the few (highly subsidised) jobs created are disappearing like the sun over the horizon. Although, for the axed workers, there will be no reappearance the following day.\u2026","rel":"","context":"In \"Chief Executive Jochen Eickholt\"","block_context":{"text":"Chief Executive Jochen Eickholt","link":"https:\/\/climatescience.press\/?tag=chief-executive-jochen-eickholt"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/06\/image-389.png?fit=1200%2C599&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/06\/image-389.png?fit=1200%2C599&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/06\/image-389.png?fit=1200%2C599&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/06\/image-389.png?fit=1200%2C599&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/06\/image-389.png?fit=1200%2C599&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/267610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=267610"}],"version-history":[{"count":15,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/267610\/revisions"}],"predecessor-version":[{"id":267632,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/267610\/revisions\/267632"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/267630"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=267610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=267610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=267610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}