Rising turbine prices could inflate green hydrogen costs

Dedicated wind-to-hydrogen projects face headwinds as embattled turbine manufacturers push though sharp price increases

Green hydrogen projects based on newbuild wind power generation face rising costs as turbine manufacturers raise prices after suffering major losses over the past two years. Turbine maker Siemens Gamesa increased its average selling price to €890,000/MW ($923,533/MW) in Q3 2022, a 41pc increase year-on-year. Meanwhile, rival European manufacturer Vestas raised its average selling price to €1.06mn/MW in the third quarter this year, up by €100,000/MW from the previous quarter and €330,000/MW from Q3 2020. There is further room for manufacturers to increase prices by another 15–25pc over the next 4–5 quarters, says Shashi Barla, director at consultancy Brinckmann. €1.06mn/MW – Average sel