TPI Composites: Biden sees 'no reason' to make turbine parts in China, instead of US

TPI Composites

29/04/2021 17:48

** Evercore analysts expect TPI Composites  TPIC.O  to
benefit from President Joe Biden's remarks that blades for wind
turbines should be built in the United States instead of China 
    ** In a line that drew some of the strongest applause in his
first speech to Congress on Wednesday, Biden said "there is
simply no reason the blades for wind turbines can't be built in
Pittsburgh instead of Beijing"  urn:newsml:reuters.com:*:nL1N2MM03T
    ** The Biden administration last month unveiled a goal to
expand the nation's fledgling offshore wind energy industry in
the coming decade as part of broader plan to cut U.S. emissions 
    ** Evercore expects TPIC to expand into offshore wind blades
within the next few years and play a key role in U.S. offshore
growth
    ** TPIC shares, which have risen ~9% this year as of
Wednesday, down ~2%

 (Reporting by Arathy S Nair in Bengaluru)
 ((arathys.nair@thomsonreuters.com))