German Wind Turbine Maker Senvion’s Spectacular Financial Collaps

Reuuters ^ | 10 April 2019 | Alexander Hübner, Michelle Martin

[WellyP]

German Wind Turbine Maker Senvion’s Spectacular Financial Collaps… Cut the subsidies and the wind industry would disappear in a heartbeat. The business model (read ‘colossal government mandated scam’) has all the hallmarks of an enormous Ponzi scheme – the wind industry’s demise is a matter of when, not if. The withdrawal of subsidies across Europe has taken its toll, as the number of new turbines erected plummets. Twelve countries in the European Union (EU) failed to install “a single wind turbine” last year.

Saddled with debt and peddling the world’s worst wind turbines hasn’t helped German turbine maker Senvion, either.

[abb]

So you’re saying the wind power industry is in the doldrums?

Exactly. It was never anything but hot air.

[Billthedrill]

Rannou said this week that the company still has “a fundamentally sound and strong business model.”

Sure. The published model:

1. Build wind generators.
2. Sell wind generators.
3. Generate enough electricity to pay off generators.

The real model:

1. Build wind generators.
2. Convince the government to subsidize them because it's a good idea for The Environment.
3. Run them at a loss because they can't generate enough electricity to be paid off.
4. Pocket the money and declare bankruptcy.

The second model has proven to be very successful.

[Texas Fossil]

Agree. They are not long term solutions. After this, more will understand that.