Oct 13, 2012 Comments Off Pat Dollard
Excerpted from BIG GOVERNMENT: A Danish wind turbine company whose subsidiaries received over $50 million in U.S. stimulus dollars announced on Friday it has cut more than 800 jobs in the United States and Canada this year and may be forced to lay off another 800 employees in North America.
This is yet another green energy company that received wasteful stimulus funds and does not even have anything to show for it.
According to Reuters, Vestas, the wind turbine maker, saw its order intake go down by 24 percent during the first half of the year.
“The U.S. wind industry has slowed, largely due to the uncertainty surrounding the Federal Production Tax Credit extension,” said Martha Wyrsch, head of Vestas-American Wind Technology, Inc.
Vestas said without more tax credits and stimulus funds, the company will have trouble competing.
Vestas executives, according to Reuters, told investors that “it would stop non-profitable projects,” especially in Europe and America, where demand for its products have plummeted.