WE SHOULD withdraw our money from banks and invest in community solar projects, according to a top energy expert. Reza Shaybani, chairman of the British Photovoltaic Association (BPVA) said the UK should take a leaf out of Europe’s book when it comes to investing, and reap the rewards of the high return on investment (ROI) […]
Offshore Wind Energy Siemens the giant German industrial conglomerate and which is also the world’s largest Green company has taken a huge lead in the nascent offshore wind turbine market. Note offshore wind energy is emerging as the new engine of growth in the wind turbine industry with all the major WTG suppliers developing turbines […]
Vestas the No.1 Wind Turbine Manufacturer in the world has been hurt drastically from low cost competition from Asian companies particularly the Chinese Sinovel and Goldwind which have won massive chunks of marketshare.Vestas has seen a slowdown in demand for its Turbines as Western Markets have cooled off.Vestas was forced to dramatically restructure its operations laying off thousands of workers mainly from its domestic Denmark base.The company is now targeting the fastest growing segment of the Wind Power Market- Offshore Wind Energy.Note a number of companies in the Wind Turbine Industry are testing or introducing Offshore Wind Turbines.Siemens,Gamesa,GE are all looking to steal a first mover advantage in this segment.Even shipbuilders like Daewoo,Hyundai,Northrop Gruman are making aggressive moves in the offshore wind market.
Wind Energy Companies are increasingly facing competition from a host of new entrants into the industry.The dominants firms Vestas,Gamesa and Suzlon have seen their stock prices fall steeply due to declining revenues and margins.A number of Giant Industrial Firms have entered the Wind Energy Industry to diversify from the slow growth in their own sectors.Korean Shipbuilders have invested heavily in the Wind Turbine Manufacturing en masse to take advantage of the secular growth of Wind Energy.Chinese companies have risen from virtually nothing 5 years ago to become Top 5 Global Wind Energy Players.Companies like Sinovel,Goldwind,Mingyang Power are now trying to spread their wings outside of China.India’s Wind Energy Industry is comparatively small but it has also seen a number of wind power companies setting up facilities with technology licensed from the West.The slowdown in the Western Markets has led to huge problems for dominant Western firms like Gamesa and Vestas.It has led to painful restructuring for Vestas which has fired thousands of workers from its domestic manufacturing base in Denmark.Gamesa has also seen management and ownership turmoil as WTG Orders have evaporated and its competitive position has eroded.GE,Suzlon,Gamesa and Vestas are all investing in the Chinese market which has grown exponentially in recent times and which is expected to form 50% of the Wind Energy Demand till the next few years.