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Engie takes big hit on Nordex turbines at US wind farm

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Engie takes big hit on Nordex turbines at US wind farm | Windpower Monthly

Engie takes big hit on Nordex turbines at US wind farm

French utility Engie took a €714 million ($772 million) hit on US renewable energy assets last year, with malfunctioning Nordex turbines partly to blame for this impairment. It still recorded net income of €2.2 billion.

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Decades of government support for the development of wind energy has resulted in lower costs and a rapidly growing share of electricity generated by wind turbines. Wind in 2019 accounted for 7.3 percent of electrical generation, surpassing for the first time hydropower at 7.0 percent. 

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