SpaceX, Tesla confirm 100 gigawatts of annual solar capacity as turbine stocks fall

  • Elon Musk confirmed SpaceX and Tesla are building annual solar production capacity.
  • SpaceX and Tesla are targeting 100 gigawatts of solar production each year.
  • Howmet fell 7%, GE Vernova 3%, and Siemens Energy 4.4%.

Shares of Howmet Aerospace, GE Vernova and Siemens Energy fell after Elon Musk confirmed on X that SpaceX and Tesla are building 100 gigawatts per year of solar production capacity. Howmet dropped 7% in premarket trading, while GE Vernova fell 3% and Siemens Energy declined 4.4% in Frankfurt. Musk said natural gas would remain necessary to supplement solar power for several years and outlined plans for SpaceX to cast turbine blades and vanes in-house, potentially accelerating natural gas turbine deployment by up to 18 months. The Information had reported that SpaceX was preparing a turbine-blade factory to address a data-center power shortage. Bloomberg Intelligence analyst Omid Vaziri said the initiative underscores turbine scarcity rather than threatening Siemens Energy, which is expanding ceramic-core and casting capacity and expects aftermarket demand to remain strong beyond 2030 as its installed fleet grows.

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