Vestas CEO eyes more business, clean tech solutions in China

17:01, November 10, 2010      

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Wind turbine giant Vestas CEO Ditlev Engel said on Wednesday that his company aimed to increase business in China and develop new clean tech solutions in cooperation with Chinese partners.

"We see our role in China, one thing is to increase business with our customers, (and) the second is to further cooperate with China to develop new clean tech solutions for the benefits of our business in and outside China," Engel told a press conference on the sideline of the two-day G20 Seoul Business Summit.

According to Engel, Vestas, with eight factories and a big research and development center in China, is the largest non- Chinese manufacturer and the fourth largest maker in China.

Vestas' main Chinese competitors were Sinovel Wind, Xinjiang Goldwind and Dongfang Steam Turbine Works.

Engel said China is the biggest wind power market and the biggest investor into clean technologies in the world. In 2009, China poured some 40 billion U.S. dollars into clean technologies.

The G20 Business Summit started on Wednesday, two days before beginning of the G20 Seoul Summit, which would gather leaders of world's major countries, including the United States, China, Russia, France, Britain, Brazil and Germany.

Vestas is the world's largest wind turbine manufacturer headquartered in Denmark, with a total global market share of 12.5 percent by the end of last year. More than the 40,000 Vestas wind turbines had been installed in 64 countries and regions, with a combined capacity of 5,581 MW, the company said on its website.

Vestas employed more than 20,000 people around the world. Its revenue stood at 6.6 billion euro (9.2 billion U.S. dollars) in 2009.



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