Wind turbine O&M a bright spot for struggling manufacturers
Turbine makers see margins in excess of 20pc from operations and maintenance, but these could dwindle with ageing assets and expansion into multibrand servicing
Wind turbine manufacturers are consistently seeing higher margins from servicing than from the sale of new turbines, according to recent company results. Spanish turbine manufacturer Siemens Gamesa’s servicing unit delivered profit margins of 22.4pc in 2021. Such margins are not unusual, according to Juan Gutierrez, CEO of the company’s service business unit, noting that it has typically seen margins above 20pc. “Growth prospects remain strong going forward, driven by an increased aftermarket focus and, obviously, a very positive growth outlook for renewable energy solutions as part of the green transition,” he says. However, manufacturers’ high servicing margins may be artificially high as
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