Wednesday, February 8 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Feb 06
Week of Jan 30
Week of Jan 23
Week of Jan 16
Week of Jan 09
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Siemens Gamesa plans to sell its Moroccan wind turbine blade factory

    November 17, 2022 - CE Noticias Financieras


      By Ahmed Eljechtimi

      RABAT, Nov 17 (Reuters) - Wind turbine maker Siemens Gamesa plans to sell its blade factory located in Tangier, northern Morocco, and stop production there in early 2023, a senior company official has said.

      "The decision has been taken from a global perspective that takes into account changes in market demand, increased competition and the impact of a severe supply chain crisis," said Paulo Fernando Soares, general manager of onshore wind for southern Europe, Africa, Latin America and Brazil.

      Supply chain problems related to pandemics, competition and skyrocketing steel and aluminum prices - exacerbated by the Ukraine war - have made wind turbine component manufacturing a tough business in recent years, despite strong demand from states betting on wind power to divest from fossil fuels.

      The closure will not affect the company's ability to deliver on current projects, he said.

      In addition to Morocco, Siemens Gamesa operates in nine other African countries, with a 50% market share of installed wind capacity.

      Its key African markets remain Egypt, South Africa and Morocco, countries that offer suitable policy frameworks and grid stability that encourages investment in wind power infrastructure and projects, Soares told Reuters by email.

      Supply chain disruption has made energy transition projects on the continent more expensive, he added.

      The company said in early November that its operating profit (ebit) margin for the year ended Sept. 30, including gains from the sale of its development division, was negative -5.9%, which was below its own August forecast of -5.5%

      Siemens Gamesa expects long-term demand to soar from 2024 onwards as part of the global drive to decarbonize, which it said will see electricity demand rise 30% between 2020 and 2030.

      (Report by Ahmed Eljechtimi; edited in Spanish by Flora Gómez)


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.