A series of well-timed bets against wind energy stocks have generated positive returns for a number of investment firms, including hedge fund Marshall Wace and quantitative trading firm Qube Research & Technologies, according to a report by The Financial Times.

Both firms have reportedly made millions from the sharp falls seen so far this year in the share prices of wind industry stocks including Siemens Energy and Ørsted.

The short activity in the wind generation market reflects a wider loss of enthusiasm for green energy stocks despite the huge government tax credits and subsidies available to combines in the US and Europe, with higher interest rates having made it more expensive to raise money for already costly new projects.