EnergyWatch

United Power continues to spiral after Vestas drops acquisition plans

Vestas' negotiations with squeezed United Power were interrupted before the new year. Since then, the Chinese company has continued to spiral downward.

Photo: Vestas

The chapter is closed on Vestas' courtship of Chinese wind turbine manufacturer United Power, according to information obtained by Finans.

According to sources obtained by the newspaper, the parties negotiated a potential transaction in autumn 2016, which should have given Vestas access to the Chinese market via United Power, which is majority owned by state energy conglomerate Longyuan.

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

Pelosi's Taiwan visit could impact Tesla's battery supplies

According to Bloomberg, the Chinese government has interfered with Chinese battery manufacturer CATL’s plans to build a factory in the US. A decision on where to build the factory has reportedly been postponed due to Nancy Pelosi’s visit to Taiwan. Updated.

Glencore books huge profit from gas crisis

The exorbitant natural gas prices have led several countries to reverse course on coal. This has served to benefit mining company Glencore, which, unlike competitors, has decided not to cut down on coal production.

Further reading

Related articles

Latest News

See all jobs