Lower Government Spending to Hit Wind Farms (GE, SI)
In 2011, global investment in new wind power generation totaled $74.6 billion. The latest estimate from Bloomberg New Energy Finance is that 2012 investment will fall to $60.8 billion and that the 2011 level won’t be seen again for at…
In 2011, global investment in new wind power generation totaled $74.6 billion. The latest estimate from Bloomberg New Energy Finance is that 2012 investment will fall to $60.8 billion and that the 2011 level won’t be seen again for at least five years.
Wind turbine makers like General Electric Co. (NYSE: GE), Germany’s Siemens AG (NYSE: SI), China’s Sinovel Wind Group, and Denmark’s Vestas Wind Systems A/S will all feel the pinch, but Sinovel and Vestas will feel it the most because they are the least diversified.
Bloomberg New Energy Finance expects spending to reach last year’s total again in 2017.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.