Wind-Turbine Orders Fell 50% in First Half of 2009, MAKE Says

Wind turbine makers around the world reported 50 percent fewer orders in the first half of 2009 than a year earlier and the market won’t improve until the last three months of the year, an industry consultant said.

Manufacturers have made “widespread” job cuts and prices for turbines in Europe and the U.S. have fallen 5 to 25 percent in the same period, according to a research-note excerpt posted today on the Web site of MAKE Consulting.
Wind turbine producers, including leaders Vestas Wind Systems A/S and General Electric Co.’s energy unit, face delays and cancellations as banks hesitate to approve financing for wind-park developers amid the credit crunch. Vestas, based in Randers, Denmark, is cutting about 1,900 jobs this year, while LM Glasfiber, the world’s biggest maker of turbine blades, has slashed more than 1,000 positions.

“Supply-side players are left with growing inventories, leading to lower prices and cost-cutting measures,” according to Hoejbjerg, Denmark-based MAKE’s report.

Bloomberg