Is Wind Power Industry becoming recovery in the world?
Vestas is a leading largest wind turbine manufacturer in the world. Last month, Vestas closed two factories let more than 400 employees lose their jobs. Vestas built some new factories in China and US to explore the local market. Vestas is also heavily expanding into China, which is the world's fourth largest wind energy producer but is forecast to overtake the US soon. In China, the government requires that at least 80% of all wind farms are made using domestically manufactured components, requiring Vestas to open new factories there if it wants a big slice of the market. The vast majority of the new 5,000 jobs are in China and the US. In the lastest report of Q2, Vestas has a 34% profits drop than last year. Is the wind turbine industry becoming recovery? I do not think so. The large wind turbine project is different with the small wind turbines. The investors are mostly state-owned companies or the governments.