It’s not yet viable to lend money to a wind farm in Europe that opts to use potentially cheaper Chinese wind turbines, according to Lisa McDermott, managing director for project and infrastructure finance, at ABN AMRO Bank NV.
While the prospect of Chinese suppliers moving into Europe could potentially cut costs for the renewable power source, it threatens to undermine incumbents like Denmark’s Vestas Wind Systems A/S and Germany’s Siemens Energy AG just as Europe tries to boost local manufacturing in the transition away from fossil fuels.
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Publish date : 2024-10-08 10:06:00
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