Library from Denmark

Danish wind turbines can be harmful to the climate

Billion Investment in wind turbines and utilization of biomass is useless if the goal is to reduce CO2 emissions. At worst, it can paradoxically harm the climate, says the Economic Council - sages - in an analysis in Berlingske Politiko. The complicated relationship skyuldes EU quota system for CO2 emissions.
28 Nov 2012

The myth of Denmark as a corruption-free country

Corruption is defined as moral decay, and that is precisely what we are witnessing here. The fear that Denmark could lose jobs and the near religious obsession with wind power has made politicians deaf and blind to objections to wind as a source of energy, and led them to take part in the industry's fraud. The environmental and human impacts of what they are doing appear to have no effect on them.
16 Nov 2012

Vestas turned back to start

Vestas' stock shares heading towards its lowest level since the company's IPO - in 1998. On Tuesday, shares of Vestas fell by 3.2 percent after news of the company's U.S. CEO, Martha Wyrsch, decided to leave the ailing wind turbine manufacturer.
13 Nov 2012

Wind turbine compensation stirring discontent

The loss-of-value clause was passed by parliment in 2008 at the urging of Dansk Folkeparti (DF) and gave neighbours to wind turbines the opportunity to seek financial compensation for lost property value. Fifty-three percent of applicants have received compensation, but those that have had money awarded say the amount did not come close to reflecting the actual value.
12 Nov 2012

Vestas stops non-profitable projects in recovery hunt

The company's chief financial officer, Dag Andresen, said Vestas would stop and close down all non-profitable projects in areas such as research and development. Products which cannot reach the market within 18 months or will not be profitable for the firm within 24 months will be put on the chopping block, he said.
3 Oct 2012

Vestas reveals Norremark deals could cost EUR18 million

Vestas has announced it is terminating its severance agreement with former chief financial officer and deputy CEO Henrik Norremark, citing unauthorised deals costing the company "up to EUR 18 million". ..."[Norremark] seems to have entered into agreements in violation of the company's internal provisions regulating his power to bind the company as well as the company’s interests in general.
2 Oct 2012

Vestas to scale down India operations

Vestas, the world's biggest wind turbine manufacturer, has decided to "scale down its sales efforts in the Indian market''. Vestas is currently implementing a global re-organisation plan to develop a "more scalable and flexible organisation" and cut cost by €250 million by the end of 2012.
25 Sep 2012

Vestas plunges amid cash shortage concerns

"Vestas' stock has experienced wild swings over the past weeks as worries about the balance sheet and press reports about a potential strategic investor grabbed the headlines," Prozesky said. "Our view has been that the stock is largely ‘un- investable' given these two potential extreme outcomes."
12 Sep 2012

Banks want Vestas-Mitsubishi deal by 2013

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.
6 Sep 2012

http://www.windaction.org/posts?location=Denmark&p=5
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