USA and Denmark
“Margins and pricing continue to remain pressured across the sector which, along with policy uncertainty such as the renewal of the U.S.’s production tax credit, have weighed on the wind industry.” James Evans, solar and wind analyst at Bloomberg Industries.
A group of international banks have given Vestas Wind Systems a deadline of Jan. 1, 2013, to reach a strategic deal with Japanese industrial giant Mitsubishi Heavy Industries Ltd. seen as shoring up the troubled Danish wind turbine maker's finances, according to news reports.
Vestas along with rivals General Electric Co. and Siemens AG is struggling with declining turbine prices and excess capacity as nations from the U.S. to Germany rein in support for renewable energy. The company detailed restructuring plans in January after issuing a second profit warning in three months.
Vestas depends on the US for one-fifth of its orders, making it highly sensitive to US market conditions.
Decades ago, California had tax breaks which became a boon for the Danish company. When those ended Vestas barely survived.
The same sort of crisis could come this December, if Congress decides not to extend a production tax credit that underpins the US wind industry.
On the heels of its lackluster financial forecasts and revised financial earnings, Danish wind turbine giant Vestas has announced a massive wave of layoffs and a major corporate restructuring designed to protect the company from further damage.
OSHA said Monday it has cited Vestas for one willful and 23 serious violations following an inspection of the wind turbine manufacturing plant.
The inspection was initiated after an employee suffered a partial amputation of two fingers and a broken wrist in November.
OSHA has proposed $164,000 in fines against Vestas.
Wind turbine maker Vestas Wind Systems is more concerned with keeping customers and spreading risk than with retaining its global number-one spot ...Under pressure after a profit warning two weeks ago devastated its stock, Vestas executives sought to allay investor concerns about the competitive threats in an industry where growth has slowed.
Disruption of a natural landscape's aesthetics can hardly be avoided. However, turbines need to be near local power grids as transmission distance drives up the cost of electricity. Combined with other issues, such as the noise generated by "swishing" turbine blades and grinding gearboxes, and "wind turbine syndrome", or supposed infrasound-induced health problems ranging from sleeplessness to learning disabilities, wind power is still battling inertia in many communities.
Vestas has landed a deal with energy giant E.ON worth over one billion kroner, although the company's wind turbines continue to experience construction and maintenance problems. ...Vestas has been the focus of less positive news recently, as several of its wind turbine owners have reported serious malfunctions, with a few of the structures having collapsed over the past two weeks.
The world's leading wind turbine manufacturer, Vestas, is puffing up the global wind power figures overnight, receiving an order Monday from BP Alternative Energy North America. The order from the oil giant's subsidiary is worth over DKK 2 billion, according to financial daily Børsen. Figures indicated that the order had significant affect on the world wind energy market and demonstrated the might of the industry's largest players. Analysts also say the order represents a breakthrough for Vestas and the turbine industry as a whole, showing that global companies with deep pockets are now banking on wind energy.
The US Department of Energy's National Renewable Energy Laboratory (NREL) and Denmark's Risø National Laboratory, Technical University of Denmark (DTU), signed an agreement to cooperate closely on improving wind energy technologies.
Since the oil shocks of the 1970s, governments around the world have paid plenty of lip service to renewable energies such as wind and solar power. But only a few governments have been able to engineer policies that have begun to bring alternative energies into wider use. Renewable fuels provided 18% of the world’s total electricity supply in 2004, according to figures from the International Energy Agency, a Paris-based intergovernmental organization. Almost all of that, though, came from hydropower, a source with limited growth potential because of geographic constraints. The use of wind and solar power is growing, but they still generated only 1% of global electricity production in 2004, the latest year for which figures are available.
The most important findings of this report highlight studies that raise critical concerns challenging some of the claims made for wind power. Badly needed evidence is now available after three years of large scale operation of wind turbines in five countries.....
These studies are the first real evidence showing how wind actually works, as opposed to what has been claimed, and come from some of the most authoritative voices on energy in the world......ABS Energy Research’s report does not relegate wind power to the dustbin. But it does show how essential proper analysis is to establish what renewable energy can and cannot deliver and how it must be accommodated within a total electricity generation system. Objective analysis is essential. Nearly every one of the points described in the study has been labelled a "myth" by a lobby group.
The excitement amongst Danish alternative energy producers was tangible late Wednesday night as US president uttered the words 'America is addicted to oil' and that something must be done about it.