EnergyWatch

KK Wind Solutions ready to "immediately scale" asset purchase from Vestas

With the takeover of Vestas' converter and control systems business, KK Wind Solutions has more than doubled its personnel head count in less than four years.

Photo: KK Wind Solutions

The stated growth aims of KK Wind Solutions are enormous. Last year when Mauricio Quintana took over as chief executive of the Danish supplier of converters and control systems, the company launched a new strategy to quintuple revenue ahead up 2030 – a goal KK Wind came markedly closer to achieving Wednesday with the purchase of Vestas' business within the same area.

With the acquisition, KK Wind takes over more than 600 new personnel distributed across the wind OEM's factories in China, India and Denmark – including new product development. This will have more than just the top line growing slightly; staff count will also swell beyond 2,000 employees when the deal closes, marking a doubling in less than four years.

"The acquisition will bring immediate scale to our operations and significantly grow our business. By expanding our manufacturing footprint to China and strengthening our operations in Asia and Europe, we will be able to better serve our customers globally," Quintana writes in a statement on the purchase:

"The acquisition also complements our recently established Centre of Excellence for power conversion in Kempen, Germany. We are well-positioned to develop and deliver world-class sustainable energy solutions to top tier wind OEMs and expand further into adjacent industries, such as Power-to-X."

Vestas is also a customer of KK Wind, a relationship that will continue after the deal, which entails a contractual clause on exclusive converter and control system supply. The transaction is set to conclude in the first quarter of 2023 after customary approvals from public authorities are issued.

Vestas will keep raising wind turbine prices  

Vestas books deficit of EUR 147m in Q2  

KK Wind Solutions targets EUR 2bn valuation with new CEO 

KK Wind replaces CEO 

More from EnergyWatch

Ørsted makes group changes again

The Danish power company shakes up its organization once again, now parting ways with offshore wind chief of many years, while also moving other profiles up the corporate ladder.

Ørsted declines Taiwan tender bid

Quite atypically, the Danish market leader publicly rejects to bid in Taiwan’s solicitation for 3GW offshore wind due to poor framework conditions. The green transformation will wilt if developers build uneconomic projects, says CEO.

Last platform now in position at Tyra site

After completing the voyage from Batam, Indonesia, the process module is now in position in the North Sea. Only one piece is now missing from the reconstruction project at the Tyra site.

Further reading

Related articles

Latest News

See all jobs