Library filed under General from Europe

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

Fury erupts over wind turbine proposals for Ipswich

Around 300 people turned out for an emergency meeting yesterday, organised by campaign group Stop Ipswich Turbines (SIT), to show their strength of feeling against the project. Partnerships for Renewables is working with Ipswich Borough Council, which owns the land between Pinewood and Belstead, to site the pair of turbines.
1 Oct 2012

Wind farm investors eye exit

Two of the biggest investors in Polish wind farms - Denmark's Dong Energy and Spain's Iberdrola - are preparing to exit central Europe's largest energy market ...Sale on the part of Dong and Iberdrola is probably dictated by the companies' quests to reduce debt, one of the people said on Tuesday.
26 Sep 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

Fullabrook noise testing reveals wind farm is too noisy

The country's biggest on shore wind farm is too noisy according to the results of noise testing, it has been revealed today (Tuesday). But North Devon Council (NDC), as the local planning authority, could not confirm whether this breach of the wind farm's planning regulations would see them forcing Fullabrook Wind Farm to close.
25 Sep 2012

Don't be fooled by wind farm windfall

Do none of these Mooney-like green zealots realise the idea of having one of these obscene blots [wind farms] on the landscape located close to you is about as attractive as living in the central reservation of your nearest motorway? There is considerable evidence that shows these turbines are not just undesirable, they're positively dangerous.
23 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
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