As technology improves the world grows smaller and as it does energy markets have become more intertwined than ever before.
Its no longer unusual for an American company to invest in Turkey or for a European company to manufacture in Asia. But even as globalization has opened opportunities for investors and entrepreneurs, it has added–at times this year–crippling pressures on sectors of the energy industry. Keep reading →
Indications that fierce competition in the global wind turbine industry is about to intensify came with news from the world’s largest wind turbine manufacturer. Vestas abandoned its forecast of €15 billion in revenues in 2015 and said that job losses and restructuring will follow instead.
The Danish manufacturer’s third quarter results signal the challenges ahead as established players seek traction in emerging markets to compensate for oversupply, market expansion slows and the US and EU face potential double dip recessions, just as Chinese companies entice overseas customers with knock-down prices. Keep reading →
China’s success in building a domestic wind industry has turned it into a victim of its own success. Domestic and global oversupply has pushed Chinese companies into an aggressive price war that extends the shadow of Solyndra to the wind sector.
Companies from China and other Asian countries such as Japan’s Mitsubishi and South Korea’s Samsung are now reaching previously untapped markets such as Bulgaria, Belarus and Macedonia as well as debt-laden European countries such as Ireland and Greece. Keep reading →