Library filed under General from Denmark

Analysis of wind farm performance in the United Kingdom and Denmark

Ref-hughes-19-12-12_thumb The Renewable Energy Foundation published this research paper by Dr Gordon Hughes, Professor of Economics at the University of Edinburgh, on the performance over time of wind farms in the United Kingdom and Denmark.  The paper can be downloaded by clicking the link(s) on this page.  The UK and Danish data used in the analysis is also available below. The following summarizes the results of the research.
19 Dec 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

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

Denmark's energy industry faces new headwinds

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.
27 Mar 2012
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