Affordable Wind Turbines

Affordable Wind Turbines » Affordable Wind Turbines Blog

By: john heath | July 02, 2020

Key Points
  • Nordex is the latest in a line of wind turbine manufacturers that have been impacted by the coronavirus.
  • Other firms that have suspended or withdrawn guidance include Vestas and Siemens Gamesa Renewable Energy. 
Jens Büttner | picture alliance | Getty Images

Nordex has become the latest wind turbine manufacturer to withdraw guidance for the 2020 financial year, in another example of how the coronavirus pandemic is disrupting the renewable energy sector.

In a statement issued Tuesday the German company said its performance in the first quarter of 2020 had “improved substantially in line with expectations” compared to the same period in 2019.

Citing preliminary numbers, Nordex said sales in the first quarter hit 964.6 million euros ($1.04 billion), up from 398.9 million euros in the first quarter of 2019. Earnings before interest, taxes, depreciation and amortization hit 13.1 million euros compared to 3.3 million euros in the first quarter of 2019. Final figures for the first quarter of 2020 will be published next week.

Looking forward, however, the business added that the Covid-19 pandemic would affect results from the second quarter and noted that these effects were “not yet quantifiable.” 

“Because of the governmental restrictions and measures persisting worldwide for an incalculable period of time, the continuing COVID-19 pandemic has led to material disruptions and changes in significant parts of our operations, including, for example, in procurement and production,” the Hamburg-headquartered company said.

Nordex said that due to the continuing uncertainty about both the length and severity of the disruptions, and because the potential for further hits to areas such as its supply chain and installations could not be assessed reliably, “the prerequisites for a realistic and robust estimation of Nordex’s performance do no longer exist.”

Nordex is the latest in a line of wind turbine manufacturers that have been impacted by the coronavirus.

In April, Danish firm Vestas suspended guidance for 2020, with the Aarhus-headquartered firm noting that the global spread of Covid-19 and national measures taken to contain it had caused disruptions to installations, manufacturing and its supply chain.

Last month also saw Siemens Gamesa Renewable Energy (SGRE) withdraw financial guidance. On Wednesday, SGRE said Covid-19 had had a “direct negative impact” of 56 million euros on its profitability between January and March.

This, it added, was equivalent to 2.5% of revenues during the quarter. Year-on-year, revenues at SGRE dropped by 8% in the first three months of 2020.


Comments:

Be the first to comment ...

Post a Comment

Tags

wind turbine solar panels portable wind turbine portable solar panel solar panels wind tur bines Affordable Wind Turbines affordable wind turbines wind power wind mill wind systems solar systems plug and play wind power plug and play solar power wind turbine plugs into wall outlet solar panel plugs into wall outlet

affordable wind turbines youtube

Affordable Wind Turbines

Solar Panel

wind turbine

Affordable Vertical axis wind turbines

vawt

home turbine

plug and play wind power

Portable Wind Turbine kit

grid tie

Vertical Axis Wind Turbines

How A wind turbine is made

The making of a wind turbine

The Glaring Engineering Mistake That Made Wind Turbines

How do Wind Turbines work

Icewind

BloombergHelloWorld

Vortex Bladeless

Busted

1 kw portable wind turbine with emergency power and it plugs into wall outlet grid tied

Warranty

Insurance and Maintenance for Wind Turbines

The Impact of the Coronavirus on the Renewable Energy Industry covid-19

Coronavirus continues to impact the wind energy sector

Amid disruptions from the coronavirus

wind turbine giant Vestas suspends guidance for 2020

As Wind Power in the US Gains Traction

the Coronavirus is Complicating Matters

The US wind industry installed over 1

800 megawatts in first quarter

but the coronavirus remains a risk

WIND POWERS AMERICA

Coronavirus Unnerves US Wind Market During Record Year for Construction

Affordable Wind Turbines Saves on utility Rates

Affordable Wind Turbines World could heat up nearly 3 degrees by 2024

UN warns

COVID-19 is changing the way residents use power

As temperatures rise and COVID lingers

US residents face increased risk of blackouts Experts

Canadians claiming new high-tech wind turbines as world s most energy-efficient power source charged with fraud in U S

U S Offshore Wind Power Blown on Course

Wind turbines could be the electric cars of grid services

New study explores hidden benefits of supersized wind turbines

New Turbines Go Online

Tripling Northern Colorado’s Wind Power

New system uses wind turbines to defend the US national grid from power cuts

Vertical Axis Wind Turbine Market to Witness an Outstanding Growth by 2024

Vertical-axis Wind Turbines Market Research 2020 by Industry Growth

Business Opportunities

Top Manufacture

Industry Share Report

Size

Regional Analysis and Global Forecast to 2026

Portable Wind Turbine Market Outlook 2020-2026

UT Dallas Gets USD 3 3 Million for Vertical Axis Floating Wind Turbine

Vertical axis wind turbines can offer cheaper electricity for urban and suburban areas

Shell and Eneco’s offshore wind farm to include floating solar and hydrogen production

Affordable wind turbines has a similar concept it tried to get funding for years ago but couldn t it would have used Vertical axis wind turbines with hydrogen production

6 Best Home Wind Turbines 2020 Reviews WINDMILL

https www renewableresourcescoalition org best-home-wind-turbines

AFFORDABLE WIND TURBINES

affordable wind turbines