Senvion CEO predicts more bankruptcies in wind

The CEO of insolvent wind OEM Senvion sees symptoms of a difficult crisis in the industry, which is marred by quite dim prospects in Germany. There is one small bright spot, however.
Photo: BWE/Tim Riediger/nordpool
Photo: BWE/Tim Riediger/nordpool

Chief Executive Yves Rannou took over at Senvion just as the string quartet prepared to play the final melody aboard the sinking ship. Only four months after he took the position, the German wind turbine manufacturer filed for bankruptcy protection. After struggling for half a year, the company sent its most viable business units into the lifeboat of competitor Siemens Gamesa, while the remaining parts are still floating helplessly or sinking.

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