Vestas performs well in China despite price fall - report

Jul 21 2011 - Although rates in China have decreased, Danish wind turbine maker Vestas Wind Systems A/S (CPH:VWS) showed strong performance in the Asian country, Jens Tommerup, president of Vestas China, told Danish newswire Ritzau Finans today.

Turbine prices in China dropped some 5% on the year in the first quarter of 2011. Besides, more and more new players are joining the market, Borsen said.

Anyway, the downward trend does not apply to the whole market, the news source pointed out. There are energy companies which invest in long-term solutions and high-quality turbines, and are willing to pay more for that, according to Tommerup. Vestas has a big potential namely in that segment, he stated.

In the period 2006-2010, the Danish firm saw its order intake constantly increase, even when prices were on the decline, Tommerup said. Vestas delivered turbines of an overall 1,482 MW to China last year. In the first quarter of 2011, it supplied 95 MW to customers in the Asian country.

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