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Vestas wind systems overtook xinjiang goldwind as top wind equipment manufacturer: Globaldata

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Vestas Wind Systems overtook Xinjiang Goldwind Science & Technology Co.,
Ltd. as the top manufacturer of wind turbines in 2016, managing to
install 8.53 Gigawatt (GW) compared to Xinjiang Goldwind's 6.37 GW,
according to research and consulting firm GlobalData.

The company, which recently released a report exploring the wind turbine
market [1], states that Vestas' strong performance throughout all
regions and particularly high activity levels in the US, Brazil, Canada,
and Argentina, helped it take the top spot this year. The Vestas US
market witnessed strong deliveries of around 3.94 GW and an order intake
of around 3.5 GW, facilitating considerable future potential.

Ankit Mathur, GlobalData's Practice Head for Power, explains: "It was a
record year for Vestas in terms of revenues, earnings before interest
and taxes margin, net profit, free cash flow, order intake, and combined
order backlog.

"Indeed, the company holds a strong global footprint, which has helped
it attain profitability in mature and emerging markets. Vestas has also
made considerable headway in its multi-brand service capabilities
through the acquisition of Germany-based service provider Availon
Holding GmbH.

"In tandem with the company's various successes, Vestas was also helped
to the top spot by the harsh market environment faced by former leader
Xinjiang Goldwind, which saw company revenues drop by 8.5% from last
year. The Chinese wind power market in which the company operates faced
deterioration in 2016 due to a fall in installations caused by the
National Development and Reform Commission slashing wind energy
benchmarket tariffs."

GE Power took third place in the rankings, with installed capacity of
5.87 GW in 2016. The company's acquisition of LM Wind Power will enhance
its ability to increase energy output and provide value creation for its
onshore and offshore customers. In addition, the company's new 3.6
Megawatt (MW) and 3.8 MW models joined hands with its 3 MW wind turbine
platform.

Subsequently ranked manufacturers included Gamesa Corporacion
Tecnologica with 4.04 GW, and Enercon GmbH with 3.83 GW. Siemens AG is
another company which was ousted from its 2015 ranking, moving from
second to sixth, while Gamesa Corporacion Tecnologica moved up from
eighth to fourth.

Wind Power | News published on 16 / 03 / 2017 by Rashmi Nargundkar

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