Vestas will grow with the Chinese market, says the wind turbine manufacturer's top executive for China, Lars Andersen, in an interview with the Danish news agency Direkt.
He expects good growth rates on the Chinese wind market again this year, but compared to previous years, however, there will be a significant slowdown in growth.
"China represents a huge market which is driven by the desire for less dependence on fossil fuels, climate concerns and a general growing need for energy. So the market is here, which is very positive. At the same time the money is here, investment is here, and China is ready to invest, which is also very positive", said Lars Andersen.
Lars Andersen expects further progress for the Chinese wind turbine market, which in 2008 landed at about 6500 MW in terms of newly installed capacity; roughly double that of the previous year.
"We expect continued good growth, but not so much as we saw from 2007 to 2008. We anticipate an increase of growth in 2009 of 20-30 percent in annual installed capacity," says Lars Andersen.
In 2008 Vestas delivered 596 MW to the Chinese wind turbine market, a growth of 30 percent compared to 2007, when supplies were at 458 MW. |