Vestas no longer top in wind power

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Wednesday, March 27, 2013

Vestas lost its world lead in wind power manufacturing to American rival GE-Wind.

Vestas supplied 14 percent of the world market last year for turbines and other parts, topped by GE-Wind, which bolted to a 15.5 percent market share. Vestas had been the world market-share leader since 2000, Navigant reported.

GE Wind benefited from the year-end rush to take advantage of production tax credits in the U.S., which were set to expire. Congress wound up extending the wind tax break for another year, but uncertainty prompted wind developers to speed construction of new projects last year.

The feared expiration of the tax break brought a banner year to Oregon’s wind power industry in 2012, for new installations. While layoffs mounted at Vestas and Iberdrola, a wind power operator that also maintains its North American headquarters in Portland, new wind developments bloomed.

Read more at The Portland Tribune.

{biztweet}vestas{/biztweet}

 

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