Energy: 23,000 jobs at risk: Offshore crisis hits German industry
New figures show just how expensive Germany's sluggish offshore wind farm expansion could become. Billions in value added are at risk, and some suppliers are already cutting jobs.
Germany's offshore wind industry is facing an existential crisis due to a combination of rising costs, high interest rates, and unfavorable political conditions. According to a study by wind:research, 23,000 of the current 49,000 jobs in the industry could be lost over the next four years if the expansion of offshore wind parks continues to stall, resulting in a revenue loss of €24 billion.
Siemens Energy, one of the world's largest wind turbine manufacturers, and other suppliers such as Vestas, are at risk of losing billions of euros in orders. The industry's growth has stalled, with no new offshore wind parks being approved in Germany for two years, and projects with at least 16 GW of capacity are on hold.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
