World's Biggest Wind Turbine-Maker Says Global Downturn Slashing Demand. By Terry Macalister, Guardian (UK), January 21, 2009. "The world's biggest wind turbine manufacturer Vestas says the current economic downturn has left it with 15% excess manufacturing capacity as demand for the technology falls short of projections. The news came as company works to restore its reputation following the discovery of fraud in its Spanish subsidiary. Despite political impetus behind the industry, the financial crisis has cut away demand said Ditlev Engel, the Danish company's CEO. 'Six months ago everyone (in the investment community) said we were not doing enough to meet demand growing at an expected 40% this year. Now people are saying Why have you put in place plans for a 40% increase in capacity when growth levels are only going to be 25%?,' he explained."
2009-01-21
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