Just how important is the U.S. Production Tax Credit (PTC) for renewable energy that is set to expire in December? Ask Ditlev Engel, CEO of Vestas Wind Systems, the world's largest wind turbine manufacturer. Engel predicts the U.S. wind turbine market will drop a whopping 80% next year if the incentive vanishes as expected.
Vestas Wind Systems, the world's largest turbine manufacturer, received a massive supply order today from Mexico.
Reporting its preliminary end of the year results, Vestas Wind Systems says it generated approximately EUR 6 billion in revenue, while receiving 7.4 gigawatts worth of turbine orders.
Chicago-based E.ON Climate & Renewables North America, a subsidiary of E.ON AG (Xetra: EOAN) of Germany, one of the world’s largest energy companies, this week announced it ordered 112 of Vestas' V100-1.8 MW turbines for an undisclosed American wind-energy project. The specific model of turbines is designed to provide maximum capture of wind at lower speeds.
It was another underwhelming week for the stock markets, with the broad markets and broad clean energy indices all losing ground over the five days.
The only strongly positive clean energy sector was wind power and technology, with the EnergyBoom Wind Subindex (E•B Wind) increasing 1.35% and the First Trust Global Wind Energy ETF (FAN) climbing 0.90%. Biggest loser was the solar power and technology sector, with the EnergyBoom Solar Subindex (E•B Solar) falling 7.34% and the Guggenheim Solar ETF (TAN) dropping 6.27%.