The Stuttgarter Zeitung reports that Big Wind turbine maker Siemens remains in financial distress despite being on the receiving end of yet more subsidies in the form of $12 billion in low-interest loans guaranteed by the German government. Siemens CEO Christian Brunch told the newspaper the company is planning to scale back its onshore turbine business, which is the centerpiece of the company’s massive losses in recent years.

“When an area loses so much money, you have to question the strategy,” Brunch says. Um, no kidding, Sherlock, what was it that finally tipped you off?

Brunch’s sudden come-to-Heincrich moment is apparently based on the reality that, as Zietung puts it, the onshore turbine segment has suffered “a three-year decline. In the past financial year 2022/23 alone (as of September 30), the loss amounted to a net loss of 31 billion euros in sales of 4.6 billion euros, after lower red figures had already been recorded in previous years.”

Let’s read that again: “a net loss of 31 billion euros in sales of 4.6 billion euros.” For those who struggle with the latest version of the new math, that amounts to a loss-to-sales ratio of roughly 680%[!], a fairly amazing number that is almost impossible to comprehend, even for a heavily subsidized wind business. I mean, even Ford Motor Company’s EV division is doing better than that.

All that’s bad enough for the overall health of the failing global wind power industry, but the fallout from Siemens’ struggles is far-reaching.

The Zietung notes later in its story:

More serious in the long term is the fact that Siemens Energy no longer wants to supply the whole world with onshore wind turbines in the future. “Europe will be a key market and so will the US,” Bruch said vaguely. Asia is no longer included in this short list. In terms of technology, Siemens Energy will probably no longer offer all of today’s variants of wind turbines. Exactly from which regions and products the company will withdraw will be revealed to stock market players next Tuesday.

[End]

Oh. um, well, who is going to take up all that slack? Will GE do it? Not likely, given GE’s recent expression of relief that the slowing down of the wind industry in the U.S. will ease loss-incurring pressures on its own turbine business.

If not GE, then who? Isn’t the most obvious answer China? Of course, it is. Will that reality force policymakers across Europe, the U.S., Canada, and the rest of the developed world to take a step back and reassess the insane, energy security-destroying direction of their chosen energy policies?

Hah! Stop it. Of course, that won’t happen for one simple reason: Rendering the developed West hopelessly subservient to China for its future energy security is a feature, not a glitch, of these climate alarm-driven policies.

Siemens is just one more piece in that massive jigsaw puzzle that is already becoming well-filled in.

If any of this surprises you, well, you haven’t been paying close enough attention to what has been happening around you since January 2021.

That is all.

Learn more about wind energy and its dirty little secret » GO.