Simone Wapler – La Chronique Agora (France) –
The French sector of wind power equipment is bankrupt, despite subsidies, despite “state capitalism”, despite everything. Nature and the market are stubborn.
The wind is turning.
Markets fall, gold rises, central bankers hesitate …
Will the myth of infinite and free credit be swept away by a hurricane? Too early to say, dear reader. But another small local market, easier to analyze, is dark before our eyes.
Francéole, the only French manufacturer of windmaster masts, will be sealed by the court of Chalon-sur-Saône on Thursday 7 September. One of the shareholders of Francéole is Pélican Venture, the holding company of the Gorgé family group.
The entire sector appears to be in disarray.
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Vergnet (engines and turbines, photovoltaic panels) is also in receivership. It is a bit of our money that flies, because Bpi France holds 42.5% of this company. In another case, New Wind, a Breton start-up in the sector that went into liquidation last March. This time, Arnaud Montebourg, ex-minister of the “Productive Recovery”, is found at the presidency of the supervisory board. He lost the € 56,000 he had personally invested.
The illness or death of a business is always a sad thing, for its founders, shareholders, managers, suppliers and employees.
In general, a company dies because it lacks customers willing to pay for its products a price that makes it earn money. Basically, the products are too expensive or they no longer have buyers.
A market polluted by the tax-subsidy pump
However, it was not possible to say that the wind energy sector suffered from contrary winds: the Paris agreement, an energy transition plan made by Segolene Royal (the godmother of the eco-tax portals), a carbon tax, and so on. The gigantic state-subsidized taxpayer pump runs at full speed for this blessed policy area.
That may be the problem …
We are typically in the context of win-lose trades. About the wind turbines, listen to a specialist:
“These are intermittent energies that will require large reserves capacities that will rely on natural gas … The result of races, we will pay three times. First of all, it will be necessary to build two systems (wind-gas) […]. Secondly, we will have to subsidize wind turbines. Third, gas turbines will operate only 70% of the timeand therefore the capital cost of the megawatt hour will be increased by the same amount.So I think we have to think carefully before we want to engage too massively in intermittent renewable productions. “
Gérard Mestrallet, President of GDF-SUEZ,The New Factory, 8June 2011
In France, wind turbines are intermittent electricity; Gérard Mestrallet is right. The share of coverage guaranteed by these intermittent means is very small, between 0% and 0.7% depending on themonthly data RTE
In addition to its high price, the wind-gas system generates “greenhouse gases” 70% of the time.
But Emmanuel Macron takes on board the objectives of the “previous energy transition plan” of the previous government. He plans to “double by 2022 the capacity in wind and solar photovoltaic. Thirty billion euros of private investment will be mobilized “.
Unfortunately, this whole flow of money will not make domestic manufacturers more competitive with foreign competition.
Losers: taxpayers, consumers, people in disfigured regions, national suppliers, their shareholders, suppliers and employees …
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Winners? We do not even know who is the winner, in this case where all prices are distorted, competition is distorted, customers are forced to buy (the wind turbines resell their intermittent services to the EDF even when the latter does not does not need).
Or rather, if, alas, I let you guess who gains in this gabegie: the Parasitocracy, pardi! A special mention for Arnaud Montebourg who lost personal pens and this time falls into the category “victim”.
Here is a video, produced by the BBC of our British neighbors, which humorously deals with the political exploitation of “climate change” by the Parasitocracy. We have subtitled it so that francophones can also savor it.