Wind-Power Makers To Combine in Face of Competitive Market

In one indication of the continuing maturation of the wind-turbine market, two of the industry's major players—Vestas and NEG Micon, both based in Denmark—have announced plans to merge. The new entity, operating under the Vestas name, is expected to corner up to 35% of the worldwide market, employ 8,500 people and earn up to $3.

03/01/2004


In one indication of the continuing maturation of the wind-turbine market, two of the industry's major players—Vestas and NEG Micon, both based in Denmark—have announced plans to merge. The new entity, operating under the Vestas name, is expected to corner up to 35% of the worldwide market, employ 8,500 people and earn up to $3.3 billion in sales in 2004.

The move was made in anticipation of expiration of the U.S. production tax credit (PTC), which provided incentives for utilities to invest in wind-energy farms. The credit expired Dec. 31, 2003, and its fate remains uncertain in the face of haggling over energy legislation, which continued as this issue of Pure Power went to press. In addition, according to a SolarAccess.com news story on the topic, GE's entry into the wind-turbine market has raised the stakes—and lowered margins—for all turbine manufacturers.

Managers at the newly re-formed Vestas remain bullish, despite these events, citing installed capacity growth of 100% since 2000, and 400% since 1998, in press statements related to the merger.





No comments
Consulting-Specifying Engineer's Product of the Year (POY) contest is the premier award for new products in the HVAC, fire, electrical, and...
Consulting-Specifying Engineer magazine is dedicated to encouraging and recognizing the most talented young individuals...
The MEP Giants program lists the top mechanical, electrical, plumbing, and fire protection engineering firms in the United States.
integrated building networks, NFPA 99, recover waste heat, chilled water systems, Internet of Things, BAS controls
40 Under 40; Performance-based design; Clean agent fire suppression; NFPA 92; Future of commissioning; Successful project management principles
BIM coordination; MEP projects; NFPA 13; Data center Q&A; Networked lighting controls; 2017 Product of the Year finalists
Transformers; Electrical system design; Selecting and sizing transformers; Grounded and ungrounded system design, Paralleling generator systems
Commissioning electrical systems; Designing emergency and standby generator systems; VFDs in high-performance buildings
Tying a microgrid to the smart grid; Paralleling generator systems; Previewing NEC 2017 changes
As brand protection manager for Eaton’s Electrical Sector, Tom Grace oversees counterfeit awareness...
Amara Rozgus is chief editor and content manager of Consulting-Specifier Engineer magazine.
IEEE power industry experts bring their combined experience in the electrical power industry...
Michael Heinsdorf, P.E., LEED AP, CDT is an Engineering Specification Writer at ARCOM MasterSpec.
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me