Vestas to Expand in US Despite Turbine Market Forecast

10 November 2010 (Last Updated November 10th, 2010 18:30)

Vestas is planning to increase its production in the US despite forecasts of a cut in installations in the region. Chief executive officer Ditley Engel told Bloomberg that the cheapest way to produce electricity in the US from wind is to make it in the US. Vestas has no plan

Vestas is planning to increase its production in the US despite forecasts of a cut in installations in the region.

Chief executive officer Ditley Engel told Bloomberg that the cheapest way to produce electricity in the US from wind is to make it in the US.

Vestas has no plans to change the balancing of its capacity beyond the European reductions announced 26 October 2010, according to Engel.

Vestas has spent more than $1bn building four production facilities in Colorado to replace turbine imports in the US, the second biggest market after China.

Last month, HSBC sliced this year's forecast for the US wind market by 14% and by 33% for next year.