Vestas Wind Systems A/S rose to a 2 1/2 year high in Copenhagen trading after the world’s biggest wind turbine maker boosted its outlook for 2013, saying its two- year program to revive profit is on track.
Wind-turbine makers have seen profit margins wiped out, and the potential end of tax credits in the U.S. will see its “boom-and-bust” market persist, Suzlon Energy Ltd. Chairman Tulsi Tanti said today.
Suzlon Energy Ltd. , India’s biggest maker of wind turbines, said it plans to expand capacity at its plant in China as that market remains the world’s largest and the company returns to profit this financial year.
The rupee’s biggest plunge in 20 years is endangering the recovery of India’s $1.6 billion wind power industry as higher finance and import costs negate benefits from a government subsidy restored last month.
Suzlon Energy Ltd. , India’s largest wind-turbine maker, plans production for Chinese offshore wind projects within three years to tap a market that may provide 5,000 megawatts of orders a year, Chairman Tulsi Tanti said.