Huge order declines for German wind turbine manufacturer

Despite four extra months to work with, Europe's sixth-largest turbine manufacturer saw the 2016 order intake decline by almost a fourth. 

Photo: Senvion

Senvion's first year as a listed company was something of a flop. In an announcement preceding its annual report, due to be presented in March, the wind turbine manufacturer announced that the order intake for 2016 had a value of EUR 1,304 million. That is 13 percent lower than what was presented the year prior for the sale of 1,522 MW – despite the fact that the 2015 financial year was four months shorter for the company.

That is because the fiscal calendar was aligned to the calendar year when American capital fund Centerbridge officially bought Senvion from Indian company Suzlon at the end of March 2015. A little over a year later, part of the turbine manufacturer was listed on the stock exchange, although it took two attempts, as the price was initially greater than the interest.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Vattenfall secures public funding for hydrogen venture in the UK

By producing hydrogen directly from turbines, the utility wants to reduce energy loss and save money. The company has just received state subsidies to develop the first turbine of this kind in the UK, providing a much more efficient solution than other alternatives, says CEO Anna Borg.

Further reading

Related articles

Latest News

See all jobs