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Wind turbine maker Vestas returns to profit but CEO sees challenges ahead

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Wind turbine maker Vestas returns to profit but CEO sees challenges ahead | Windpower Monthly

Wind turbine maker Vestas returns to profit but CEO sees challenges ahead

Vestas returned to profit in the first quarter of 2023, but company CEO Henrik Andersen sees political, regulatory and economic challenges ahead this year.

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Related Knowledge Center: ENERGY BASICS: renewables

State of Play

Renewable energy sources — once the fuel of the future, then practical in specific, narrow applications — are increasingly economic mainstream sources of power generation. Hydropower was long the mainstay of U.S. renewable electricity generation, although wind power surpassed hydro for the first time in 2019, and solar continues its rapid growth. The continued growth of wind and solar, with their fluctuations, is tied in part to improvements in storage technology: batteries.

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