Top Wind Firm Profits Tumble 98% in New Blow to Clean Energy (2)

Xinjiang Goldwind Science & Technology Co.,the largest wind-turbine maker, said third-quarter profit tumbled in another blow to a renewables sector reeling from the impact of lower prices even as demand jumps.

The producer’s net income fell 98% to 9.4 million yuan ($1.29 million) in the three months ended Sept. 30 from a year earlier, the company said Thursday in a statement. Sales volumes in the first nine months were 8.9 gigawatts, up more than a quarter on the same period in 2022. Goldwind’s shares fell as much as 5% intraday in Shenzhen on Friday.

Asia’s largest ...