The Energy Absurdity of the Week: Big Trouble at Big Wind

Friday's Energy Absurdity: Big Trouble at Big Wind

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It’s been a no-good, terrible, very bad week in the Land of Big Wind, starting with the second-largest wind manufacturer in the world.

Reuters reports that Big Wind maker Siemens Gamesa saw a third of its market value wiped away in Friday trading after company management warned that its quality problems are worse than previously reported.

Oh.

Speaking on a press call, Siemens Gamesa CEO Jochen Eickholt characterized the latest findings as “a disappointing and severe setback," adding, "I 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."

Yikes.