NEW YORK, NY / ACCESSWIRE / May 5, 2021 / Vestas Wind Systems A/S (OTC PINK:VWSYF) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 5, 2021 at 4:00 PM Eastern Time.To listen to the event live or access a replay of the call - visit https://www.
Turbine makers Vestas and Siemens Gamesa have both reported tricky quarters. Problems with supply bottlenecks and delays due to the pandemic figured prominently for the turbine makers during the last quarter. Siemens Gamesa of Spain noted delays to its onshore wind turbine deliveries and pared its revenue outlook accordingly.
It's no secret that renewable energy, in this case, wind power, is a long-term growth industry. Indeed, leading energy industry bodies such as the U.S. Energy Information Administration (EIA) believe that, on average and without tax credits, onshore wind power will make more financial sense than combined cycle (gas and steam) power within the next 20 years. Wind power has long-term growth prospects, but global onshore wind power installations will be flat in the medium term, while global offshore installations will likely only take off in 2025 and afterward.