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Viewsroom

Wind woe opens door for alternative green ideas

Viewsroom

Reuters

News

4.458 Ratings

🗓️ 9 November 2023

⏱️ 20 minutes

🧾️ Download transcript

Summary

Shares of Orsted and Siemens Energy are being battered by their inability to boost profits. In this Viewsroom podcast, Breakingviews columnists explain how trouble in offshore wind may encourage investors to back other clean energy segments like battery storage, cables and solar. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt-out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

The views expressed on this podcast are those of the participants, not of Rogers News.

0:08.5

This new law also provides tax credits that's going to create tens of thousands of good paying jobs,

0:13.9

clean energy manufacturing jobs, solar factories in the Midwest and the South,

0:19.8

wind farms across the plains and off our shores,

0:22.6

clean hydrogen projects and more all across America, every part of America.

0:27.6

That was Joe Biden speaking last year about the benefits of green subsidies,

0:32.6

which should have been a boon to companies like wind turbine maker Orsted.

0:36.6

But far from enjoying the spoils of turbine maker Orstedt. But far from enjoying the

0:38.7

spoils of subsidies, Orsted has lost tens of billions of dollars off its market value this year.

0:44.8

But why aren't these companies doing well when there is such demand for clean energy?

0:49.3

Stay tuned for this week's Viewsroom.

0:52.7

Welcome back to the Viewsroom, a podcast from Reuters breaking views

0:56.3

where columnists from around the world talk about the big stories of the week.

0:59.8

I'm your host, Amy Donovan, coming to you from London.

1:04.7

Companies that specialize in green energy,

1:07.3

and more specifically, offshore wind, are having a torrid time.

1:11.5

Orsted's share price has collapsed by 80% since its peak in 2021.

1:16.6

But it seems an odd turn of events that the companies that are charged with providing green

1:20.7

energy infrastructure are doing so badly when there is such a push for alternatives to fossil fuels.

1:26.9

Here to try and unpick this situation is Lisa Yuka, our European business editor

1:31.5

and George Hay, EMEA editor of Breaking Views.

1:48.1

Welcome Lisa and George.

...

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