Vestas eyeing major Chinese acquisition

The wind turbine manufacturer has secret plans to put its money to work and conquer the Chinese market from within.

Photo: Vestas, PR

While Vestas' top management insists that the Danish wind turbine manufacturer will primarily grow on its own service, it is secretly probing to gain a solid foothold in the world's largest wind power market by entirely or partly taking over United Power, one of China's largest wind turbine manufacturers.

This is according to several sources with knowledge of Vestas' and United Powers strategic considerations independently of each other.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

WindEurope warns against negative auction bids

If more countries introduce negative bids, where firms pay to establish wind projects, it could lead to higher electricity bills or more pressure on the supply chain, says the industry association.

BW Offshore halved bottom line in Q1

The Norwegian firm reports decline in several items compared to the same quarter of 2021 but predicts fine advancement in the rest of 2022, for which both floating wind projects and high energy prices show promise.

Equinor exits Russia

Norwegian oil company Equinor has taken its final step out of the Russian market by transferring joint venture assets to Rosneft.

Further reading

Related articles

Latest News

See all jobs