Photo: Siemens Gamesa/Illustration

Premium

COVID-19 impacts offshore wind players’ balance sheets, but not build-out and expansion plans

With financial results for the second quarter and the first half of the year now being presented, the status of the offshore wind sector in relation to the impact of the global COVID-19 crisis is becoming more prominent and, once again, it shows that the companies are both shaken and unshaken by it, at the same time. While the impact is obvious in their financial records – project development, new investments and expansion plans are mostly intact.

Almost all of the big offshore wind players have an optimistic long-term view, and one of the reasons for this is also the global push to use more renewable energy, and that push is now perhaps stronger than ever.  

“The greatest cause for long term optimism for our industry came not in the wind farms of the North Sea or Aragon, but on the streets of our Cities where the call to address climate change was made loud and clear by the youth of society, and in the corridors of power where that call was heard and where we are seeing the resolution to act”, said Miguel Ángel López, Chairman of Siemens Gamesa’s Board of Directors, at the company’s 2020 General Shareholders’ Meeting on 22 July.

Premium content

You are currently not logged into your account. Register and get a two week trial.

Premium

Premium content

You are currently not logged in to a MyNavingo account.

Premium content

Your current account does not have access to this premium item. Please upgrade your membership to access this content.

Go to the shop
Related news

List of related news articles