CEO of Vestas wind turbine manufacturing company talks to Forbes in the video below about the outlook for wind energy in the US and recent changes to the wind turbine manufacturing market.
Vestas is the world’s largest wind turbine manufacturer although its market share fell last year, partly due to the entry of 35 new Chinese wind turbine manufacturers. In this video Vestas CEO, Ditlev Engel talks about why the US is important to Vestas and its plans for increasing the number of green collar jobs at its manufacturing plant from 1300 to 4000.
Engel describes the US as having the “best wind resource in the world” but when asked whether the economic stimulus package would help the industry he responded “one answer – banks“. Engel points out that demand for wind turbines and financing are two separate issues. Whilst demand for wind turbines is very strong, the banks need to start doing their job and fund projects again. Engel said “Once funding starts flowing again…good things will start to move and the stimulus package will help break the ice“.