Vestas to strive to keep leading position in Australia - report
Nov 23, 2012 - Danish wind turbine maker Vestas Wind Systems A/S (CPH:VWS) expects to be able to maintain its leading position in Australia, where it currently has a market share of more than 50%, news agency Bloomberg reported yesterday, citing Vestas executives.
Despite growing competition from big conglomerates and emerging Chinese players, Vestas estimates that it will boost its market share to some 60% next year, after the launch of AGL Energy's (ASX:AGK) Macarthur project and the Musselroe wind farm in Tasmania, chief marketing officer Morten Albaek was quoted as saying in an interview in Sydney on Wednesday.
According to the executive, Australia will soon start putting on stream some 1.2-1.5 GW of new wind power capacity a year until 2020. The country targets to have 20% of its energy generated from renewable sources by 2020.
Albaek underlined that Australia was a top 10 market for Vestas and that competition would be tough due to the country's ambitious renewable energy target and privileged wind resources.
In terms of market share in Australia, Vestas is followed by India's Suzlon Energy (BOM:532667), Germany's Siemens (FRA:SIE) and Spain's Acciona (MCE:ANA), according to data by Bloomberg New Energy Finance. In addition, in the past year Vestas has seen growing competition also from Chinese companies, which sometimes vie for the same projects, Naveen Balachandran at Vestas Asia Pacific and China said in the interview.