Vestas & Gamesa Get Big Boost From U.S. Wind Tax Credit Extension
Support CleanTechnica's work through a Substack subscription, on Patreon, or on Stripe. Help us produce all of the high-quality, original content we publish week after week despite the challenges of content-scraping AI, antisocial media, inflation, and other hurdles.
The United States wind PTC (production tax credit) which was on the verge of expiring, causing firms to rush their wind energy projects has been extended late last night.
Vestas is headquartered in Denmark, but the U.S. is a very significant market for the wind turbine leader. Based on the positive wind power news, shares in the Aarhus-based company increased by as much as 13%, the most in five weeks. As of 12:52pm Copenhagen time, they were up 8.7%, at 34.64 kroner.
Gamesa Corp. Tecnologica SA, another big wind turbine company (this one based in Spain), jumped as much as 7.8%, which was the most in four months. And German wind turbine company Nordex SE (NDX1) saw its shares increase by 4.8%.
“It’s really good news for Vestas, because the American market and how it develops is extremely important,” Chief Marketing Officer Morten Albaek said today in a phone interview. “It’s a good way of starting the new year.”
Source: Bloomberg.com
Sign up for CleanTechnica's Weekly Substack for Zach and Scott's in-depth analyses and high level summaries, sign up for our daily newsletter, and follow us on Google News!
Have a tip for CleanTechnica? Want to advertise? Want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Sign up for our daily newsletter for 10–15 new cleantech stories a day. Or sign up for our weekly one on top stories of the week if daily is too frequent.
CleanTechnica uses affiliate links. See our policy here.
CleanTechnica's Comment Policy
