Vestas to combine its China and Asia-Pacific business regions
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Vestas to combine its China and Asia-Pacific business regions

18 Oct 2021 (Last Updated October 18th, 2021 12:29)

The turbine manufacturer aims to allocate its resources most efficiently by combining the two business regions.

Danish wind turbine manufacturer Vestas is set to combine its businesses in China and Asia-Pacific into one single unit to cover the Greater Asia region.

The company said that the consolidation is the next step of its previously announced strategic alignment to meet the future demands of the energy market.

The move is also intended to allow Vestas to allocate resources most efficiently across its manufacturing, construction and service units.

Vestas Group president and CEO Henrik Andersen said: “The global energy market is changing fast, and key to this development is the fast-growing energy demand in Asia, the continuous maturation of wind energy’s supply chain, as well as offshore wind’s rapid expansion from Europe to the rest of the world.

“By creating one Vestas business region for Greater Asia, we strengthen our regional setup to serve customers building their portfolio within both onshore and offshore, cater for our substantial supply chain footprint in China and India, establish one united and stronger leadership team, and improve our foundation to build a strong and diverse talent pipeline.”

The combined region will be effective from 1 January and will be led by current Vestas Asia-Pacific president Purvin Patel.

Vesta China president Thomas Keller will be made chief financial officer of Vestas Latin America.

The two business regions will continue to operate independently until fully consolidated.

Vestas also plans to form a dedicated management team to focus on China.

Patel said: “Today marks the beginning of an exciting new chapter for Vestas in the Greater Asia region.

“We want to build one bigger and bolder Vestas Asia-Pacific, where we will be able to accelerate the expansion of sustainable energy solutions and services.”

In August, Vestas reported that its revenues in the second quarter of this year stood at €3.53bn ($4.1bn), flat compared to the same period of last year.