Tag: Vestas

Kiran Stacey

Last month, Vestas launched its new 7MW offshore wind turbine to great fanfare. At the top of London’s South Bank Centre, accompanied by a flashy video and models of the turbine for every attendee, we were told that this was the future of offshore wind power.

This was an obvious pitch to developers hoping to build under the upcoming third round of leasing of the UK’s seabed for offshore wind farms. The only problem was that the company hadn’t got very far with it – no prototype had been built and no location had been set for its manufacture.

Kiran Stacey

As is becoming tradition with diplomatic affairs  around the world, the Nordic-Baltic summit hosted by David Cameron over the past few days has brought with it announcements of new commercial deals.

On this occasion, it is the energy expertise of the northern European countries that the UK is keen to tap. Cameron announced on Thursday that both Vatenfall and Vestas will be creating new jobs in Britain.

Vantenfall will set up a new HQ in London, employing 50 people. The Swedish energy producer already runs Thanet, the world’s biggest offshore wind farm, located off the Kent coast, and said on Wednesday it wants to develop another massive farm in the North Sea. A London HQ seems a natural step given this level of investment, and could quickly grow from 50 people.

Kiran Stacey

Picture by Vestas

Picture by Vestas

In this week’s readers’ Q&A session, Ditlev Engel, CEO of Vestas, the world’s biggest wind turbine manufacturer, answers your questions on the future of wind power.

In the second of two parts, he talks about whether wind power is inefficient and the impact of the recession on Vestas.

Next in the hotseat is Yvo de Boer, the former head of the UN’s climate change body and the man who led the UN at Copenhagen. He is now an advisor at KPMG and will be answering your questions on this site next Friday, December 10th. Send in your questions for consideration by the end of Monday, December 6th to energysource@ft.com.

But for now, over to Ditlev:

Kiran Stacey

Picture by Vestas

Picture by Vestas

In this week’s readers’ Q&A session, Ditlev Engel, CEO of Vestas, the world’s biggest wind turbine manufacturer, answers your questions on the future of wind power.

In the first of two parts, Ditlev defends his industry’s government subsidies, explains his company’s decision to axe 3,000 jobs and discusses the major global obstacles to developing wind energy.

In the second part, to be published later this morning, he will talk about the inefficiencies of wind power and the impact of the recession on Vestas.

Next in the hotseat is Yvo de Boer, the former head of the UN’s climate change boyd and the man who led the UN at Copenhagen. He is now an advisor at KPMG and will be answering your questions on this site next Friday, December 10th. Send in your questions for consideration by the end of Monday, December 6th to energysource@ft.com.

But for now, over to Ditlev:

Kiran Stacey

The boss of the world’s biggest wind turbine manufacturer, Vestas, has warned that the wind energy sector in Europe remains fairly stagnant, in remarks that deal a blow to governments’ hopes of constructing new industries around renewable technologies.

Answering Energy Source readers’ questions, Ditlev Engel warned of a “lack of momentum in Europe”. He said:

We have, so to speak been holding our breath for a very, very long time in this region – and not by accident.

But today, when almost all countries in the area are struggling to get their economies back together, we must face the fact that uncertainty – even by 2011 – will remain significant around Europe.

Kiran Stacey

Yvo de BoerMany thanks for all your questions for Ditlev Engel, the CEO of Vestas. His answers will appear on this site on Friday.

Next week, the person in the hotseat will be Yvo de Boer, the man who tried, and failed, to lead the UN to a binding climate change agreement in Copenhagen. He is now an advisor to KPMG, and on the final day of the Cancun summit, he will be on hand to talk about all things climate change.

Send in your questions on anything from why Copenhagen failed to whether the US will walk away from Cancun, or what role business has to play in any agreement.

Email all your questions to energysource@ft.com by the end of Monday, December 6th.

Kiran Stacey

Ditlev Engel - Photo courtesy of Vestas

Ditlev Engel - Photo courtesy of Vestas

Many thanks for all your questions for Sara Vaughan, Eon UK’s head of regulation and energy policy. Her answers will appear on this site on Friday.

Next week, the executive facing a grilling by Energy Source readers will be Ditlev Engel, chief executive of Vestas, the world’s biggest maker of wind turbines.

This is your chance to ask Engel about Vestas’ role in building Thanet, the world’s largest offshore wind farm, or perhaps about why the company is cutting 3,000 jobs when governments across Europe are stating their commitment to wind power.

Email all your questions to energysource@ft.com by this Friday, November 26th.

Kiran Stacey

WWF’s EU climate tracker, on which I blogged earlier today, highlighted the inconsistencies in European approaches to supporting the green energy sector.

Now another report (apologies for the third of the day), shows the effect on the companies themselves.

The report comes from law firm Taylor Wessing and VB Research, which have conducted a survey of 200 industry executives and financiers to find out how difficult it is for green energy companies to find financing.

Fiona Harvey

It has been a busy week for wind energy.

First came the good news – a massive investment in offshore wind in the UK. Although the UK leads the world in offshore wind generation, that is mainly because so little of it has been built anywhere. But a vote of confidence in the UK’s prospects came from three wind turbine manufacturers who announced on Monday they would set up shop on the UK’s north-east and eastern coasts.

General Electric, Siemens and Gamesa are arriving, with more than £300m in investment promised and the creation of an estimated 3,000 jobs. (That is direct jobs – more will follow along the supply chain.)

Kiran Stacey

Yesterday’s confirmation that the government would protect £60m of spending on port infrastructure gave an important fillip to the UK offshore wind industry.

But today the industry had much more worrying news from Vestas, the market leader in this area, who have decided to slash 14 per cent from its overall workforce, at a cost of 3,000 jobs. Clare MacCarthy reports from Copenhagen:

Vestas, the world’s largest wind power company, is to cut up to 3,000 jobs – some 14 per cent of its global workforce – because of excess capacity and a cut in order expectations in Europe.

The closures of four production facilities in Denmark and one in Sweden were announced on Tuesday with the Denmark-based group’s third-quarter results. Net profits fell to €126m ($176m) from €165m a year earlier and sales declined 5.1 per cent to €1.72bn.

Ditlev Engel, the CEO, said:

Based on the expectations we have for 2011 in Europe, however, we must now recognise that a higher European level of activity will not be realistic – at least not in the short term.

Far from encouraging words for European offshore wind.

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