Wind companies beat profit forecasts as Iran war shifts energy focus

Wind turbine makers Vestas and Orsted reported strongerthanexpected firstquarter results, with both companies pointing to a broader shift in how governments think about energy security after the war in Iran. Vestas said improved performance in its onshore and offshore businesses helped lift profit, while Orsted said the conflict has strengthened the case for accelerating Europe’s move toward renewables. Norway’s Equinor, which remains mainly an oil and gas producer, also posted solid earnings and said its clean energy businesses could benefit from the changing energy backdrop. Executives said the crisis has increased attention on reducing reliance on fossil fuel imports and building more selfsufficient power systems. Analysts, however, said it is still unclear whether the conflict will cause a major shortterm change in renewable investment, even if the longterm case for clean energy remains intact.