Wind industry lays off 219 in past week

Source: Wall Street Journal • Posted: Monday, August 27, 2012

NEW YORK (MarketWatch) — Three companies that make components for wind turbines laid off a total of 219 people in the past week, the American Wind Energy Association (AWEA) said on Friday. The trade group said 174 people were laid off at the Clipper Wind Power facility in Cedar Rapids, Iowa. Vestas Wind Systems (DK:vws)(XE:vws) cut about 30 workers at its Brighton, Colo., facility. Denver-based Walker Component Group, a cable supplier to Vestas, trimmed 14 of its staff. AWEA said the cuts stem primarily from uncertainty surrounding the Production Tax Credit, which is set to expire at the end of the year and has yet to be extended in Congress. The credit provides a tax break for wind farm developers.