Vestas to Work With Japanese Companies to Expand Wind Market

Feb. 27 (Bloomberg) — Vestas Wind Systems A/S, the world’s second-largest maker of wind turbines, will seek to increase cooperation with Japanese companies to expand the market, Chief Executive Officer Ditlev Engel said.

“We are very happy to share all the lessons we have learned and the knowledge we have gained,”Engel said today in an interview in Tokyo, without elaborating.

Japan, which lags behind countries such as China and the U.S. in wind installations, is seeking to generate more clean energy after the 2011 Fukushima nuclear disaster. Japan was ranked 13th in the word with 2,614 megawatts of installed wind capacity at the end of last year, according to the Global Wind Energy Council.

Vestas, based in Aarhus, Denmark, and Mitsubishi Heavy Industries Ltd., Japan’s largest heavy-machinery maker, are in talks to develop an 8-megawatt turbine, Vestas Chief Financial Officer Dag Andresen said in November.

Engel said it is important to extend cooperation with other Japanese companies to bring the Asian nation’s wind industry to the “next level.” He declined to comment on talks with Mitsubishi Heavy.

Vestas is halfway through a two-year push to cut its workforce by about 30 percent to 16,000 as it seeks to return to profitability following two years of losses.

To contact the reporters on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net; Masumi Suga in Tokyo at msuga@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net; Jason Rogers at jrogers73@bloomberg.net

More News >>