Danish wind energy giant Vestas targets China again | Biz weekly

The Danish windmill giant Vestas is looking to invest in China again. Vestas is hoping to make a comeback in the country, after suffering a sharp decrease in its industry share during the recent global financial crisis. The leading manufacturer, seller and installer of wind turbines was forced to shut factories and lay off thousands of employees in Denmark and China, but it is once again pursuing growth in the Chinese market, that is the most important wind energy market in the world.

China has identified wind power as a key growth component of the country's economy; researchers have found that China could meet all of their electricity demands from wind power through 2030. In 2011, China's plan was to have 100 gigawatts of on-grid wind power generating capacity by the end of 2015 and to generate 190 billion kilowatt hours of wind power annually.

In 2010, China became the largest wind energy provider worldwide. According to a report on China Daily, Vestas want a large chunk of the cake of China’s wind energy market and is large enough to pursue larger contracts. According to the company's figures, Vestas installed 13.2 percent of all wind turbines worldwide in 2013 and produced 28 percent more power than its nearest competitor, marking the completion of a turnaround for the company, following the crisis in 2011 and 2012.

Further reading on chinadaily.com

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