Report
Guy Sips ...
  • Kristof Samoy
  • Sharad Kumar S.P
  • Thibault Leneeuw
  • Wim Hoste
  • Wim Lewi

Wind Energy : A deep-dive into the wind sector The wind is changing, is your portfolio keeping pace?

In a new note focusing on Wind Energy, we aim to provide a broad insight into the value chain, the risks associated with it and the positioning of the companies in the sector.

The current market environment presents both opportunities and challenges for wind energy companies.
The sector has faced multiple headwinds in the past, such as inflation, rising interest rates and supply chain issues, which resulted in a substantial decline in the stock prices of wind companies. However, there's a lot of upside potential driven by the growth in the sector. This is mainly caused by the Net Zero Energy Transition, the shift in mindset about gas dependence, due to the last energy crisis and the substantial capital flowing into the sector.

As the sector matures, previous headwinds are being resolved, which has led to a healthier supply chain and better government frameworks. Furthermore, a record number of tenders, the growing end-of-life market and the expected growth outlook of the sector could make wind companies an attractive investment opportunity.

Companies from our coverage that are likely to benefit from these opportunities are Bekaert, DEME, Elia, Fugro, TINC and TKH Group. We also included profiles on other European wind energy players like Sif, Siemens, Iberdrola, Oil majors, …
Underlyings
Bekaert SA

Bekaert is a global technological and market company engaged in advanced solutions based in steel wire transformation and coatings as well as an independent manufacturer of drawn steel wire products. In addition, Co. teams up with customers and suppliers globally to develop, implement, upgrade, and protect both current and future technologies. Co.'s business activities are put in practice along two main axes: Product Innovation and Process Innovation. Product Innovation helps Co. better serve its customers, while Process innovation enables Co. to increase operational effectiveness, minimizing its impact on the environment.

DEME GROUP NV

Elia Group SA/NV

Elia System Operator develops, operates and maintains very-high-voltage (380 kV, 220 kV and 150 kV) and high-voltage (70 kV, 36 kV and 30 kV) networks, providing its customers with consultancy and engineering services. Whether in Belgium, Germany or elsewhere in Europe or the U.S., Co. ensures that electricity flows reliably from energy producers to distributors and large corporate customers. Co.'s main activities include transmission operator, system operator and market facilitator, developing and maintaining grid infrastructure, connecting electrical installations to grids, providing transparent access to grids, while taking initiatives to improve electricity market operations.

FUGRO NV

TINC Comm. VA

TINC Comm VA. Tinc Comm VA, also known as TINC, is a Belgium-based company focusing on investments in Infrastructure Asset Companies holding capitalintensive Infrastructure Assets providing services and generating cash flows of a long term sustainable nature. The Initial Investment Portfolio of the Company includes investments in over 10 Infrastructure Asset Companies holding underlying Infrastructure Assets in public private partnerships (PPP), energy and real assets in Belgium and the Netherlands, including Strorm and Brabo 1, among others. It operates through Storm Holding 4 NV.

TKH Group N.V. Cert

TKH Group creates and supplies Telecom, Building and Industrial Solutions. Telecom Solutions develops, produces and supplies systems ranging from outdoor infrastructure for telecom and CATV networks through to indoor home networking applications. Building Solutions develops, produces and supplies solutions in the field of electro-technology ranging from applications within buildings through to technical systems that - combined with software - provide solutions for the care and security sectors. Industrial Solutions develops, produces and supplies solutions ranging from specialty cable, "plug and play" cable systems through to integrated systems for the production of car and truck tires.

Provider
KBC Securities
KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

 

Analysts
Guy Sips

Kristof Samoy

Sharad Kumar S.P

Thibault Leneeuw

Wim Hoste

Wim Lewi

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